https://www.taxtmi.com/caselaws?id=762114 Delay in filing Form 10B audit report was treated as insufficient, by itself, to deny exemption under section 11 where the compliance issue could be cured at the first appellate stage before CIT(A)/NFAC. The Tribunal followed the view that the audit report may be considered even during appellate proceedings, so delayed filing alone did not justify rejection of exemption. The matter was therefore restored for fresh adjudication on merits, with the denial of exemption not sustained on that ground alone. en-us Thu, 21 Nov 2024 00:00:00 +0530 Sat, 23 Nov 2024 11:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=762114 Delay in filing Form 10B audit report was treated as insufficient, by itself, to deny exemption under section 11 where the compliance issue could be cured at the first appellate stage before CIT(A)/NFAC. The Tribunal followed the view that the audit report may be considered even during appellate proceedings, so delayed filing alone did not justify rejection of exemption. The matter was therefore restored for fresh adjudication on merits, with the denial of exemption not sustained on that ground alone. Case-Laws Income Tax Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=762114