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2022 (8) TMI 1372 - ITAT MUMBAIExemption u/s 11 - denial of claim as non-filing of Audit Report in Form 10B along with Return of Income - assessee is a charitable trust registered under section 12AA of the Act and has been purportedly enjoying the benefits of section 11 since 2011 - HELD THAT:- Non-filing of Audit Report in Form 10B along with Return of Income is merely a procedural defect which is rectifiable. If the Audit Report was available with the assessee at the time of filing of Return of Income and was not filed due to bona fide reasons the benefit of exemption under section 11 cannot be denied if otherwise assessee is eligible to claim the same. In the case of CIT vs. Mumbai Metropolitan Regional Iron & Steel Market Committee [2015 (4) TMI 512 - BOMBAY HIGH COURT]has held that late filing of required documents would not disentitle the assessee from availing benefit of section 11 of the Act. Thus, restore the file back to Assessing Officer for de novo assessment after considering the audit report field by the assessee, in accordance with law. Appeal by assessee is allowed for statistical purposes.
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