https://www.taxtmi.com/caselaws?id=468929 Delayed filing of Form 10B was treated as a procedural issue, and exemption under section 11 was not to be finally denied at the processing stage where the audit report was already on record and a condonation application was pending before the competent authority. The governing framework placed condonation jurisdiction under section 119(2)(b) with the designated Principal Commissioner or Chief Commissioner, so the appellate authority should await that decision before sustaining an adjustment under section 143(1). The matter was therefore restored for fresh adjudication after disposal of the condonation request, reflecting that a procedural lapse should not defeat exemption where statutory conditions may otherwise be satisfied. en-us Tue, 22 Jul 2025 00:00:00 +0530 Mon, 25 May 2026 20:05:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468929 Delayed filing of Form 10B was treated as a procedural issue, and exemption under section 11 was not to be finally denied at the processing stage where the audit report was already on record and a condonation application was pending before the competent authority. The governing framework placed condonation jurisdiction under section 119(2)(b) with the designated Principal Commissioner or Chief Commissioner, so the appellate authority should await that decision before sustaining an adjustment under section 143(1). The matter was therefore restored for fresh adjudication after disposal of the condonation request, reflecting that a procedural lapse should not defeat exemption where statutory conditions may otherwise be satisfied. Case-Laws Income Tax Tue, 22 Jul 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468929