https://www.taxtmi.com/caselaws?id=793090 Belated filing of Form 10B did not by itself justify denial of exemption under sections 11 and 12 where the audit report was ultimately furnished before processing of the return and the assessee was otherwise eligible; the defect was treated as procedural, and the matter was remanded for fresh computation of income and accumulation. The delay in filing the appeal was also condoned on sufficient cause, since the assessee explained the delay by affidavit and there was no contrary material or objection from the Revenue, with substantial justice preferred over technicality. en-us Fri, 08 May 2026 00:00:00 +0530 Tue, 09 Jun 2026 07:50:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793090 Belated filing of Form 10B did not by itself justify denial of exemption under sections 11 and 12 where the audit report was ultimately furnished before processing of the return and the assessee was otherwise eligible; the defect was treated as procedural, and the matter was remanded for fresh computation of income and accumulation. The delay in filing the appeal was also condoned on sufficient cause, since the assessee explained the delay by affidavit and there was no contrary material or objection from the Revenue, with substantial justice preferred over technicality. Case-Laws Income Tax Fri, 08 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793090