Section 11 exemption cannot be denied merely for delay in furnishing of Form 10B

Gangji Shamji Chedda (Princewala) Charitable Trust Vs DCIT (ITAT Mumbai) It is held that filing of audit report in form 10B during the course of assessment proceedings is sufficient compliance of section 12A(b) which has to be considered. So the exemption otherwise available to the assessee trust under section 11 cannot be denied merely on account of delay in furnishing of audit report in form 10B as required under section 12A(b) of the Act. So in the present case audit report having been filed by the assessee trust well prior to the last date of filing of return is a sufficient compliance of ...