S.80IA: Industrial undertakings-Enterprises engaged in infrastructure development-Failure to file audit report within prescribed time-limit-Filed the audit report in Form 10CCB prior to the processing of the return under S. 143(1)-Denial of exemption was not valid.[S. 80IA(4)(i), 80IA(7), 143(1), Form No 10CCB.]
Tribunal held that since the assessee admittedly filed the audit report in Form 10CCB prior to the processing of the return under s. 143(1), the assessee cannot be denied a deduction under s. 80-IA(4) for not filing the same within the prescribed time-limit. (AY. 2022-23)
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