Deduction Allowed Since Form 10CCB Audit Report Filed Before Processing of Return

Sahyadri Farmers Producer Company Limited Vs ACIT (ITAT Pune) The appeal before the ITAT Pune concerned the disallowance of deduction of ₹8.73 crore claimed under section 80IB(11A) of the Income-tax Act, 1961 for assessment year 2017–18. The assessee had filed its return of income declaring nil income after claiming the deduction. While processing the return under section 143(1), the Centralised Processing Centre (CPC) disallowed the deduction on the ground that the audit report in Form 10CCB was filed belatedly. The first appellate authority upheld this disallowance, leading to the appeal...