https://www.taxtmi.com/caselaws?id=470375 Charitable exemption under sections 11 and 12 remains available where trust accounts are audited within the statutory specified date but Form 10B is uploaded late, because timely audit is substantive compliance and delayed electronic furnishing is a curable procedural lapse. A bona fide first-year belief that Form 10B could accompany the return may justify condonation where there is no gross negligence, deliberate inaction, or lack of bona fides. The expression "by that date" in section 12A(b)(ii) refers to the due date for filing the return under sections 139(4A) and 139(1), rather than the audit deadline under section 44AB. Form 10B filed by the return due date is therefore timely. 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 Charitable exemption under sections 11 and 12 remains available where trust accounts are audited within the statutory specified date but Form 10B is uploaded late, because timely audit is substantive compliance and delayed electronic furnishing is a curable procedural lapse. A bona fide first-year belief that Form 10B could accompany the return may justify condonation where there is no gross negligence, deliberate inaction, or lack of bona fides. The expression "by that date" in section 12A(b)(ii) refers to the due date for filing the return under sections 139(4A) and 139(1), rather than the audit deadline under section 44AB. Form 10B filed by the return due date is therefore timely. Case-Laws Income Tax Wed, 19 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470375