https://www.taxtmi.com/caselaws?id=13253 The HC dismissed the appeal, affirming that the procedural requirement to file the audit report under section 32AB(5) of the Income-tax Act, 1961, along with the return of income, is directory rather than mandatory. The Tribunal's decision to allow the deduction was upheld, as the substantive requirement of auditing the accounts was met before filing the return, and the audit report was submitted during the assessment proceedings. The court emphasized the distinction between substantive and procedural requirements, aligning with prior judicial reasoning that procedural compliance during assessment proceedings suffices. en-us Mon, 08 Aug 2005 00:00:00 +0530 Mon, 22 Apr 2024 15:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13253 The HC dismissed the appeal, affirming that the procedural requirement to file the audit report under section 32AB(5) of the Income-tax Act, 1961, along with the return of income, is directory rather than mandatory. The Tribunal's decision to allow the deduction was upheld, as the substantive requirement of auditing the accounts was met before filing the return, and the audit report was submitted during the assessment proceedings. The court emphasized the distinction between substantive and procedural requirements, aligning with prior judicial reasoning that procedural compliance during assessment proceedings suffices. Case-Laws Income Tax Mon, 08 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13253