ITAT Restores Section 10AA Deduction as CPC Withdrew Claim Without Reasons

Portescap India Private Limited Vs DCIT (ITAT Mumbai) The appeal before the ITAT Mumbai arose from the order of the Additional/Joint Commissioner of Income Tax (Appeals), Kochi, for Assessment Year 2019-20. The dispute was confined to the disallowance of deduction under Section 10AA made by the Central Processing Centre (CPC), Bengaluru while passing a rectification order under Section 154 read with Section 143(1) of the Income Tax Act. The assessee submitted that its return of income was initially processed by the CPC, which issued an intimation under Section 143(1)(a) proposing adjustments r...