https://www.taxtmi.com/caselaws?id=467643 Exemption under section 11 could not be denied solely because Form 10B was filed after the return due date, as belated filing of the audit report was treated as a directory compliance rather than a mandatory bar. The Tribunal held that where the assessee's underlying entitlement and relevant facts remained verifiable, late submission of Form 10B by itself did not defeat the claim. The denial of exemption on that ground was not sustained, and the assessment was to be recomputed after verification of the necessary facts. en-us Mon, 17 Feb 2025 00:00:00 +0530 Fri, 27 Mar 2026 19:52:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=467643 Exemption under section 11 could not be denied solely because Form 10B was filed after the return due date, as belated filing of the audit report was treated as a directory compliance rather than a mandatory bar. The Tribunal held that where the assessee's underlying entitlement and relevant facts remained verifiable, late submission of Form 10B by itself did not defeat the claim. The denial of exemption on that ground was not sustained, and the assessment was to be recomputed after verification of the necessary facts. Case-Laws Income Tax Mon, 17 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=467643