No Section 80IC deduction if Audit was not completed on or before filing ITR

Securico Electronics India Ltd Vs ACIT (ITAT Delhi)

n a recent case, Securico Electronics India Ltd contested a decision against the denial of a deduction under Section 80IC of the Income Tax Act, 1961, by the Commissioner of Income Tax (Appeals) [CIT(A)]. The dispute arose from the non-compliance with audit requirements under Section 80IC. The Income Tax Appellate Tribunal (ITAT) Delhi upheld the decision, highlighting the importance of meeting audit deadlines for claiming deductions.

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