https://www.taxtmi.com/caselaws?id=470375 Timely completion of a trust's audit was treated as substantive compliance for exemption under sections 11 and 12, while delayed electronic furnishing of Form 10B was characterised as a curable procedural lapse where supported by bona fide cause and no gross negligence or deliberate inaction. The notes state that, under section 12A(b)(ii), "by that date" refers to the due date for filing the return under sections 139(4A) and 139(1), rather than the specified audit date under section 44AB. Accordingly, Form 10B filed by the return due date is treated as timely, preserving charitable exemption eligibility. en-us Wed, 19 Mar 2025 00:00:00 +0530 Fri, 24 Jul 2026 21:47:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470375 Timely completion of a trust's audit was treated as substantive compliance for exemption under sections 11 and 12, while delayed electronic furnishing of Form 10B was characterised as a curable procedural lapse where supported by bona fide cause and no gross negligence or deliberate inaction. The notes state that, under section 12A(b)(ii), "by that date" refers to the due date for filing the return under sections 139(4A) and 139(1), rather than the specified audit date under section 44AB. Accordingly, Form 10B filed by the return due date is treated as timely, preserving charitable exemption eligibility. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470375