Technical Glitch No Basis to Deny Section 80IB deduction: ITAT Mumbai

S.K. Ventures Vs DCIT (ITAT Mumbai) Introduction: In a recent ruling, the Income Tax Appellate Tribunal (ITAT) in Mumbai has set a precedent that ensures taxpayers are not denied the benefits of Section 80IB due to technical glitches in the e-filing system. The case of S.K. Ventures Vs Deputy Commissioner of Income Tax (DCIT) for the assessment years 2010-11, 2015-16, and 2016-17, addresses a crucial aspect of modern taxation – the impact of e-filing technicalities on statutory deductions. Detailed Analysis: S.K. Ventures, a company engaged in real estate development, filed its return of...