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Issues: Whether the delay of 31 days in filing Form No. 10B for assessment year 2022-23 ought to be condoned and the denial of exemption under Section 11 of the Income-tax Act, 1961 sustained.
Analysis: The delay was short and the factual explanation offered for the delay was not disputed by the Revenue. The trust showed that the default was attributable to the accountant's ill health and related administrative difficulties, and the audit report had been filed before the return was processed. In such circumstances, the requirement of furnishing Form No. 10B by the due date was treated as procedural, and the authorities were expected to adopt a justice-oriented, equitable and judicious approach rather than a pedantic one. The Court also noted that similar delays had been condoned in comparable cases.
Conclusion: The delay in filing Form No. 10B was required to be condoned and the refusal to do so was unsustainable.
Final Conclusion: The writ petition succeeded, the impugned order was quashed, and the petitioner was granted the relief of condonation enabling the exemption claim to be considered.
Ratio Decidendi: Where the delay in furnishing the audit report is short, the explanation is bona fide and uncontroverted, and the report is available before processing, the filing requirement operates as a procedural condition that should not be used to deny exemption on a merely technical bar of limitation.
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