Form Form 3CL issued: Section 35(2AB) deduction cannot be denied

Indian Tonners and Developers Ltd. Vs ACIT (ITAT Delhi) Introduction: The Income Tax Appellate Tribunal (ITAT) Delhi recently addressed a case involving Indian Tonners and Developers Ltd. and the Assistant Commissioner of Income Tax (ACIT) for the assessment year 2018-19. The primary point of contention revolved around the eligibility of the company to claim a deduction under section 35(2AB) of the Income Tax Act, 1961. This article provides a detailed analysis of the case and its implications. Detailed Analysis: 1. Background: Indian Tonners and Developers Ltd. (the assessee) is a resident co...