Form 10b and itr

This discussion addresses a scenario where Form 10B was filed after the Income Tax Return (ITR) but before its due date for AY 2018-19 and 2019-20. The Assessing Officer (AO) disallowed an exemption under Section 11, citing late filing of Form 10B. While the AO's action is technically correct based on Rule 12(2) of the IT Act, which requires the audit report to be filed before the ITR, the nature of the assessee being a charitable trust or institution is crucial. It's suggested to research High Court rulings that might favour the assessee in such cases.