No denial of deduction u/s 80IA(4) for delayed filing of Form 10CCB Audit Report

Desai Infra Projects (I) Private Limited Vs CIT (Appeals) (ITAT Pune) Conclusion: Deduction under section 80IA(4) couldn’t be denied solely due to the delayed filing of Form 10CCB, as the audit report was filed before the return was processed. Held: Assessee-company had filed its return reporting a total income of Rs. 6,41,73,900/- after claiming a Rs. 3,42,22,700/- deduction under section 80IA(4)(i). Centralized Processing Center(CPC) processed the return and issued an intimation under section 143(1), increasing the total income to Rs. 9,83,96,600/- by disallowing the deduction. Assesse...