2023 (4) TMI 287 - AT - Income Tax

Deduction u/s. 80IA - Disallowance of deduction as assessee did not file Form No. 10CCB along with return of income filed for the relevant assessment year - HELD THAT:- As in the case of CIT vs Ramani Realtors P Ltd [2015 (1) TMI 395 - MADRAS HIGH COURT] where it has been held that filing of audit report is directory in nature, but not mandatory and thus, when such audit report was made available to the Assessing Officer before completion of assessment, the AO ought to have allowed deduction claimed by the assessee.

Thus as relying above AO and CIT(A) were erred in not allowing deduction claimed u/s. 80IA of the Act for non-filing of Form no. 10CCB along with return of income filed by the assessee for the relevant assessment year. Thus, we direct the AO to allow deduction claimed u/s. 80IA of the Act. Decided in favour of assessee.