https://www.taxtmi.com/caselaws?id=471584 Timely filing of the prescribed audit report in Form 10BB is a condition precedent to exemption under Section 11. Where the report is not filed by the specified date, the exemption claim is unsupported at the relevant time and constitutes an incorrect claim capable of adjustment during return processing under Section 143(1). Consequently, exemption under Section 11 may be denied through such processing adjustment when Form 10BB is filed late. en-us Tue, 08 Apr 2025 00:00:00 +0530 Wed, 09 Sep 2026 19:00:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471584 Timely filing of the prescribed audit report in Form 10BB is a condition precedent to exemption under Section 11. Where the report is not filed by the specified date, the exemption claim is unsupported at the relevant time and constitutes an incorrect claim capable of adjustment during return processing under Section 143(1). Consequently, exemption under Section 11 may be denied through such processing adjustment when Form 10BB is filed late. Case-Laws Income Tax Tue, 08 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471584