ITAT Hyderabad: Section 10AA Deduction Allowed Despite Late ITR & Minor Form 56F Delay; Procedural Lapses Not Fatal

ACIT Vs MARS Telecom Systems Private Limited (ITAT Hyderabad) ITAT Hyderabad: Section 10AA Deduction Allowed Despite Late ITR & Minor Form 56F Delay; Procedural Lapses Not Fatal In this case, the Revenue challenged allowance of deduction under section 10AA on two grounds—delay in filing return of income for A.Y. 2019-20 and delay of 16 minutes in filing Form 56F for A.Y. 2021-22. The AO/CPC had disallowed the deduction on these procedural grounds. The ITAT upheld the CIT(A)’s view that for A.Y. 2019-20, filing of return within due date u/s 139(1) was not a mandatory condition for claim...