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2020 (11) TMI 6 - ITAT DELHIDeduction u/s 10AA - AO found that the assessee had not fulfil the conditions for claiming the exemption u/s 10 AA and has not furnished any evidence of the full consideration in convertible foreign exchange being the brought to India within a period of 6 months from the end of the previous year and the particulars furnished under column 16 of the report in form No. 56F were said to have been not applicable - HELD THAT:- Entire exercise of assessment is to determine the just and correct tax liability of the assessee, refusing to look into the relevant material, though submitted at a belated stage, in the absence of any mandatory provisions of law prohibiting such a course, would run contrary to the object of assessment proceedings. Unless prohibited or provided contrary, all the endeavour in the assessment proceedings should be to give a fair chance to the assessee to justify their claim for any benefit provided by law. Lest, the assessment proceedings would be perfunctory rendering it to be a mechanical exercise. We are of the considered opinion that the provisions of section 10 A (3) of the Act cannot be made applicable to the case of the assessee, if the assessee is covered by the provisions of section 10AA of the Act and even otherwise, the AO is free to verify whether the full consideration of the export activity is brought to India in convertible foreign exchange within 6 months or not. We set aside the impugned order and remand the issue to the file of the AO to verify whether the assessee is otherwise entitled to claim the exemption under section 10AA and if the learned Assessing Officer feels it necessary, he may call for any information required for that purpose. Appeal of the assessee is allowed for statistical purpose.
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