https://www.taxtmi.com/caselaws?id=757898 The dominant issue was whether exemption under s.11 could be denied solely for delayed filing of audit report in Form 10B and whether appellate authorities could grant relief despite such delay. The ITAT held that furnishing Form 10B along with the return is a procedural requirement; non-filing within time is a procedural omission that, in appropriate circumstances, cannot defeat a substantive claim to s.11 exemption. On the explanation that the auditor bona fide believed Form 10B was unnecessary due to nil income and resultant interpretational confusion, the ITAT condoned the delay, set aside the jurisdiction-based dismissal by the CIT(A), and restored the matter with a direction to allow s.11 exemption in accordance with law. en-us Wed, 14 Aug 2024 00:00:00 +0530 Mon, 25 May 2026 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=757898 The dominant issue was whether exemption under s.11 could be denied solely for delayed filing of audit report in Form 10B and whether appellate authorities could grant relief despite such delay. The ITAT held that furnishing Form 10B along with the return is a procedural requirement; non-filing within time is a procedural omission that, in appropriate circumstances, cannot defeat a substantive claim to s.11 exemption. On the explanation that the auditor bona fide believed Form 10B was unnecessary due to nil income and resultant interpretational confusion, the ITAT condoned the delay, set aside the jurisdiction-based dismissal by the CIT(A), and restored the matter with a direction to allow s.11 exemption in accordance with law. Case-Laws Income Tax Wed, 14 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=757898