ITAT Remands Case as Fresh Claim Cannot Be Rejected Solely Due to Delay

Sunanda Polymers LLP Vs DCIT (ITAT Mumbai) The appeal before the Income Tax Appellate Tribunal (ITAT), Mumbai concerned the assessee’s claim for deduction under Section 32AC(1A) amounting to ₹19,11,38,877, raised for the first time during appellate proceedings for Assessment Year 2015–16. The assessee had made investments in new plant and machinery aggregating to ₹127,42,59,17 during the specified period but did not claim the deduction in the original or revised return due to an asserted oversight. During appellate proceedings, the Commissioner (Appeals) admitted the additional ground ...