Section 10AA Deduction Allowed Despite Late Filing of Form 56F – Procedural Lapse Held Curable

Graymatter Software Services Private Limited Vs DCIT (ITAT Bangalore) The Bangalore ITAT in the case of Graymatter Software Services Pvt. Ltd. dealt with denial of Section 10AA deduction solely on the ground that Form 56F (audit report) was not filed along with the return of income. The Tribunal noted that although filing of Form 56F is a requirement, the assessee had filed the form subsequently during proceedings, and the claim itself was otherwise eligible. Relying on the Madras High Court ruling in Astrotech Steels Pvt. Ltd. (2025), the ITAT held that delay in filing the audit report is a p...