https://www.taxtmi.com/caselaws?id=472327 Delayed furnishing of Form 10B does not by itself defeat exemption under section 11 where the audit report was available to the CPC before return processing under section 143(1). The prescribed filing timeline is procedural and directory, and availability of the report before processing constitutes substantial compliance. Rejection of a delay-condonation request under section 119(2)(b) does not extinguish the appellate remedy for the exemption claim. en-us Fri, 29 Aug 2025 00:00:00 +0530 Thu, 08 Oct 2026 08:44:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472327 Delayed furnishing of Form 10B does not by itself defeat exemption under section 11 where the audit report was available to the CPC before return processing under section 143(1). The prescribed filing timeline is procedural and directory, and availability of the report before processing constitutes substantial compliance. Rejection of a delay-condonation request under section 119(2)(b) does not extinguish the appellate remedy for the exemption claim. Case-Laws Income Tax Fri, 29 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472327