https://www.taxtmi.com/caselaws?id=789949 Exemption under section 11 could not be denied solely because the audit report in Form 10B was filed after the due date. The Tribunal noted that the return had been processed under section 143(1) and the only basis for disallowance was the belated filing of Form 10B, although the report had in fact been obtained and filed. Relying on co-ordinate bench and High Court authority, it treated the filing requirement as procedural and directory rather than mandatory. The delay in filing the audit report was therefore not fatal, and exemption under section 11 remained allowable. en-us Wed, 18 Mar 2026 00:00:00 +0530 Fri, 17 Apr 2026 08:21:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789949 Exemption under section 11 could not be denied solely because the audit report in Form 10B was filed after the due date. The Tribunal noted that the return had been processed under section 143(1) and the only basis for disallowance was the belated filing of Form 10B, although the report had in fact been obtained and filed. Relying on co-ordinate bench and High Court authority, it treated the filing requirement as procedural and directory rather than mandatory. The delay in filing the audit report was therefore not fatal, and exemption under section 11 remained allowable. Case-Laws Income Tax Wed, 18 Mar 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789949