https://www.taxtmi.com/caselaws?id=790466 Filing Form 10B after the prescribed time was treated as a procedural defect, not a failure of the substantive audit requirement for exemption under sections 11 and 12, because the report was available with the Assessing Officer before processing under section 143(1). The note applies the view that the statutory purpose is met when the correct audit report is on record before assessment, so delayed filing alone does not justify denial of exemption. It also states that the condonation power under section 119(2)(b) does not exclude appellate relief on the same facts. en-us Tue, 07 Apr 2026 00:00:00 +0530 Thu, 23 Apr 2026 15:51:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=790466 Filing Form 10B after the prescribed time was treated as a procedural defect, not a failure of the substantive audit requirement for exemption under sections 11 and 12, because the report was available with the Assessing Officer before processing under section 143(1). The note applies the view that the statutory purpose is met when the correct audit report is on record before assessment, so delayed filing alone does not justify denial of exemption. It also states that the condonation power under section 119(2)(b) does not exclude appellate relief on the same facts. Case-Laws Income Tax Tue, 07 Apr 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=790466