The assessee was a public charitable trust imparting education. It filed its Return without filing an Audit Report in Form 10B; which was filed subsequently. The AO  disallowed the expenses incurred by the assessee for want of an Audit Report. The assessee did not file a request for condonation of delay with CIT(E) in filing an Audit Report, and hence, CIT(A) dismissed the appeal of the assessee. The Tribunal, after referring to various other judgements, observed that the assessee has substantially satisfied all the conditions for availing the benefit of exemption under section 11/12 of the Act, except for filing the audit report in Form 10B, which was filed belatedly. The matter was restored to the Assessing Officer to verify the contents of the Audit Report and to grant the necessary exemptions under the Act. (AY. 2019-20)