This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Deduction U/s. 10AA cannot be denied for receipt of export consideration after 6 months from the close of financial year
Case Law Details
- Case Name
- BT e-Serv (India) (P) Ltd. Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Delhi
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
BT e-Serv (India) (P) Ltd. Vs ITO (ITAT Delhi)
ITAT held that There is no time-limit prescribed for bringing the consideration of export into India under section 10AA. Admittedly, the consideration had been received in India, albeit subsequent to filing of the return by the assessee. However, merely because the consideration had been received after 6 months from the close of the financial year the deduction, cannot be denied to the assessee on the sum. Therefore, AO was directed to grant deduction to the assessee under section 10AA of Income Tax Act, 1961.
FULL TEXT OF THE IT...
