Exemption Denial Overturned: Department's Objection on Late Audit Report Dismissed; CBDT Circular No. 10/2019 Cited.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Exemption u/s 11 denied - delay in filing Form no. 10 - Department's objection that the audit report in Form no. 10B was also delayed and such delay had neither been applied for condonation of delay nor been condoned, it was the submission of the assessee that the delay in filing Form no. 10B has been condoned, in general, by the CBDT, vide Circular No. 10/2019, dated 22.5.2019, it has been stated at the Bar by the ld. Counsel for the assessee that the Audit Report in Form no. 10B had been e-filed on 4.2.2017 by the Auditor within the time prescribed under the Act, i.e., before the time prescribed for filing the return of income. - A copy of such e-verification screen-shot, having acknowledgement No. 761769971200417, has been placed on record. - Objections of the department rejected - AT....