ITAT Delhi Allows 80IC Deduction for Form 10CCB Filed Before Section 143(1) Assessment Completion

Kumaon Exports Pvt. Ltd. Vs DCIT (ITAT Delhi) Income Tax Appellate Tribunal (ITAT) Delhi, in the case of Kumaon Exports Pvt. Ltd. vs. DCIT, ruled in favor of the assessee regarding the deduction under Section 80IC of the Income Tax Act, 1961. The appeal pertained to the assessment year 2018-19, where the tax authorities denied the deduction due to a five-day delay in filing Form 10CCB, despite the audit report being obtained on time. The Central Processing Center (CPC) had completed the assessment under Section 143(1) based on the revised return, without allowing the deduction. The assessee ch...