Where the assessee had claimed the exemption u/s. 11 but failed to comply with the requirement of filing the audit report from 10B online (electronic mode). AO denied the exemption.  It was observed that the requirement of law that the assessee shall have its account audited has been complied within the time prescribed by the statute as the audit report has been obtained before the return of income was filed. It was held that the filing of furnishing the audit report along with the return of income is directory and not mandatory. Thus, the exemption claimed was allowed. Appeal of revenue was dismissed. (AY. 2014-15)