Bench: Shri Rama Kanta Panda[Assessment Year: 2017-18
Charitable Society Delhi High Court in the case of CIT Vs. Web Commerce (India) (P) Ltd. (supra), has held that provisions of Section 10B(5) are directory and not mandatory and once the audit report is filed before the framing of the assessment, requirement of the provision stands complied. Relevant observation of the Hon’ble High Court reads as under