Section 80IC Deduction Cannot Be Denied for Delay of 46 Minutes in Filing Return

ITO Vs Mantangi Rubber Pvt. Ltd. (ITAT Delhi) In a significant ruling, the Income Tax Appellate Tribunal (ITAT) Delhi Bench has addressed the contentious issue of denying deductions under Section 80IC of the Income Tax Act, 1961, solely on the grounds of a minor delay in filing income tax returns. The case, involving ITO vs. Mantangi Rubber Pvt. Ltd. for Assessment Year 2009-10, saw the Tribunal condone a delay of 46 minutes in e-filing, asserting that such a technicality should not lead to the denial of substantial benefits. The core of the dispute arose when Mantangi Rubber Pvt. Ltd. filed i...