https://www.taxtmi.com/caselaws?id=771862 The SC Tribunal addressed the denial of tax exemption under section 11 of the Income Tax Act due to delayed audit report filing. The Tribunal held that procedural delays in submitting Form 10B/10BB should not automatically disqualify exemption claims. The audit report's timely availability during return processing was deemed more significant than strict adherence to filing deadlines. The case was remanded for fresh assessment, emphasizing procedural flexibility over technical non-compliance. en-us Thu, 29 May 2025 00:00:00 +0530 Sat, 31 May 2025 08:47:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771862 The SC Tribunal addressed the denial of tax exemption under section 11 of the Income Tax Act due to delayed audit report filing. The Tribunal held that procedural delays in submitting Form 10B/10BB should not automatically disqualify exemption claims. The audit report's timely availability during return processing was deemed more significant than strict adherence to filing deadlines. The case was remanded for fresh assessment, emphasizing procedural flexibility over technical non-compliance. Case-Laws Income Tax Thu, 29 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771862