Relief Granted to Trust Despite Late Audit Report Submission: Calcutta High Court Upholds ITAT’s Decision

The Calcutta High Court upheld the ITAT's decision to grant relief to a trust despite the delayed submission of its audit report. The court recognized that the delay was not intentional and did not result in any loss to the revenue. This ruling underscores the court's willingness to consider genuine cases of procedural lapses without penalizing taxpayers unduly, particularly when the delay does not adversely affect tax collection.