Relief to Gujarat Technological University: ITAT Condones Delay in Filing Form 10B, citing Income Tax Portal Difficulties

The ITAT has provided relief to Gujarat Technological University by "condoning a delay in filing Form 10B," citing "Income Tax portal difficulties." The tribunal's decision, which is a significant victory for the university, was made on the grounds that the university's claim was not supported by evidence. The ruling clarifies that a tax authority can't penalize a person for a mere technicality. The tribunal's decision is a crucial reminder to all businesses that they must be diligent in their dealings.