https://www.taxtmi.com/caselaws?id=764534 The court determined that the filing of the Audit Report in Form 10B is a directory requirement rather than a mandatory one under Section 11 of the Income Tax Act, 1961. Consequently, the Assessee's late filing of the report, which occurred after the extended due date but before the completion of the assessment, did not disqualify them from claiming the exemption. The court allowed the Assessee's appeal, instructing the A.O./CPC to grant the exemption under Section 11, as the statutory requirements were deemed fulfilled. en-us Fri, 10 Jan 2025 00:00:00 +0530 Mon, 13 Jan 2025 07:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764534 The court determined that the filing of the Audit Report in Form 10B is a directory requirement rather than a mandatory one under Section 11 of the Income Tax Act, 1961. Consequently, the Assessee's late filing of the report, which occurred after the extended due date but before the completion of the assessment, did not disqualify them from claiming the exemption. The court allowed the Assessee's appeal, instructing the A.O./CPC to grant the exemption under Section 11, as the statutory requirements were deemed fulfilled. Case-Laws Income Tax Fri, 10 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764534