https://www.taxtmi.com/caselaws?id=784314 Denial of exemption under ss. 11(1) and 11(2) on the ground of delayed filing of audit report in Form 10BB was examined. The Tribunal held that filing Form 10BB is a procedural requirement and not a mandatory precondition for exemption, and that substantial compliance is achieved where the audit report is filed and available for scrutiny during assessment proceedings. Since Form 10BB was on record before issuance of intimation under s. 143(1)(a), denial of exemption under s. 11 was held unsustainable in law, and the appeal was allowed. en-us Wed, 24 Dec 2025 00:00:00 +0530 Fri, 02 Jan 2026 07:51:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=784314 Denial of exemption under ss. 11(1) and 11(2) on the ground of delayed filing of audit report in Form 10BB was examined. The Tribunal held that filing Form 10BB is a procedural requirement and not a mandatory precondition for exemption, and that substantial compliance is achieved where the audit report is filed and available for scrutiny during assessment proceedings. Since Form 10BB was on record before issuance of intimation under s. 143(1)(a), denial of exemption under s. 11 was held unsustainable in law, and the appeal was allowed. Case-Laws Income Tax Wed, 24 Dec 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=784314