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2023 (4) TMI 1170 - AT - Income TaxDeduction u/s 10AA - claim denied as assessee did not file return within time specified u/s 139(1) - HELD THAT:- On reading of the provisions of section 10AA of the Act we observe that no such proviso was introduced making mandatory filing of return within the due date specified under sub section (1) of section 139 of the Act for availing deduction under section 10AA of the Act. An identical issue raised in the case of M/s. Opto Circuits (India) Limited [2022 (10) TMI 117 - ITAT BANGALORE]and M/S. OPTO CIRCUITS (INDIA) LIMITED [2022 (10) TMI 117 - ITAT BANGALORE] held that the denial of exemption claimed under section 10AA of the Act on the ground of not filing return of income within the due date specified under section 139(1) of the Act is not legally correct. For the year under consideration i.e. assessment year 2018-19 there is no mandatory requirement of filing the return of income within the due date specified under section 139(1)of the Act for availing exemption under section 10AA of the Act. Assessee appeal allowed.
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