https://www.taxtmi.com/caselaws?id=17299 The High Court of Madhya Pradesh ruled that filing the audit report in Form No. 10B with the return of income was not mandatory under section 12A(b) of the Income-tax Act. The Court upheld the decision that submitting the audit report during assessment proceedings was sufficient compliance with the law. Denying exemption based solely on the timing of filing the audit report was deemed contrary to the Act's flexibility in submitting required reports. The judgment favored the assessee, rejecting the Revenue's argument for mandatory filing of the audit report with the return. en-us Mon, 26 Feb 1996 00:00:00 +0530 Mon, 21 Sep 2009 13:37:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17299 The High Court of Madhya Pradesh ruled that filing the audit report in Form No. 10B with the return of income was not mandatory under section 12A(b) of the Income-tax Act. The Court upheld the decision that submitting the audit report during assessment proceedings was sufficient compliance with the law. Denying exemption based solely on the timing of filing the audit report was deemed contrary to the Act's flexibility in submitting required reports. The judgment favored the assessee, rejecting the Revenue's argument for mandatory filing of the audit report with the return. Case-Laws Income Tax Mon, 26 Feb 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17299