Summary
- The ITAT Chennai has ruled that a charitable trust cannot be denied exemption under Section 11 of the Income-tax Act, 1961 solely for filing its return after the due date under Section 139(1).
- The Tribunal emphasized that as long as the return is filed within the timeframe allowed under Section 139(4), the exemption should be granted.
- This decision stems from the case of Susila Educational Trust, which filed its return on February 9, 2019, for Assessment Year 2018-19.
- The ruling could reshape compliance expectations for charitable trusts regarding filing deadlines and exemptions in India.
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