https://www.taxtmi.com/caselaws?id=443407 The Tribunal upheld the Commissioner's decision, ruling that the failure to file the audit report along with the return of income did not warrant denial of the exemption under section 11 of the Income Tax Act. The Tribunal emphasized that the assessee's submission of the audit report during assessment and appellate proceedings constituted substantial compliance with the provisions, allowing the benefit of deduction under sections 11 and 12. The Revenue's appeal was dismissed, affirming the Commissioner's order. en-us Wed, 02 Aug 2023 00:00:00 +0530 Sat, 23 Sep 2023 10:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=443407 The Tribunal upheld the Commissioner's decision, ruling that the failure to file the audit report along with the return of income did not warrant denial of the exemption under section 11 of the Income Tax Act. The Tribunal emphasized that the assessee's submission of the audit report during assessment and appellate proceedings constituted substantial compliance with the provisions, allowing the benefit of deduction under sections 11 and 12. The Revenue's appeal was dismissed, affirming the Commissioner's order. Case-Laws Income Tax Wed, 02 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=443407