High Court backs Tribunal's decision to overlook delay in filing Form 10B, rejects Revenue's reliance on Wipro judgment.

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....The High Court upheld the Tribunal's decision to condone the delay in filing Form 10B by the assessee, rejecting the Revenue's reliance on the Supreme Court's ruling in M/s Wipro Limited. The Court distinguished the present case from Wipro, where the declaration u/s 10B(8) was filed belatedly with the revised return. Here, the assessee had electronically filed Form 10B during the appellate proceedings, and the delay was rightly condoned by the CIT(A) and Tribunal. The Court endorsed an equitable, balanced, and judicious approach in such cases, following its earlier decisions in Sarvodaya Charitable Trust and Social Security Scheme of GICEA. The Revenue's appeal was dismissed as no substantial question of law arose.....