No deduction u/s 10AA if assessee failed to file Tax Audit Report: ITAT

Mahendra Kumar Damani Vs ACIT (ITAT Chennai)

Conclusion: Since assessee did not file the Audit Report in Form No.56F as required under the law, AO had rightly disallowed deduction claimed u/s.10AA.

Held: Assessee had filed his return of income for the AY 2016-17 declaring total income of Rs.3,69,990/- after claiming deduction of Rs.75,75,621/- u/s.10AA. The return of income filed by assessee had been processed u/s.143(1) and determined total income of Rs.79,41,610/- and made addition

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