ITAT Ahmedabad Allows Section 10AA Deduction Despite Late Form 56F Filing

Nachiket Dipak Shah Vs ITO (ITAT Ahmedabad) Income Tax Appellate Tribunal (ITAT) Ahmedabad has ruled in favor of the assessee, Nachiket Dipak Shah, allowing a deduction under Section 10AA of the Income Tax Act, 1961, despite a delay in filing Form 56F. The case pertained to the Assessment Year (AY) 2017-18, where the Centralized Processing Center (CPC), Bengaluru, had disallowed the claim citing non-submission of the mandatory audit report along with the income tax return. Subsequent rectification petitions were also rejected, leading to a demand of Rs. 5,32,110/-. The Commissioner of Income T...