U/s 80IAC Deduction Allowed Subject to Filing Form 10CCB – Technical Lapse Held Curable

Eradicatus Infectus Pvt. Ltd Vs DCIT (ITAT Delhi) The ITAT Delhi partly allowed the assessee start-up company’s appeal and held that deduction u/s 80IAC cannot be denied merely due to non-filing of Form 10CCB at the time of processing u/s 143(1). The assessee, a DPIIT-recognised start-up engaged in biomedical devices, had claimed deduction of ₹3.56 crore which CPC disallowed for want of Form 10CCB. The Tribunal observed that although section 80IA(7) read with section 80IAC requires filing of audit report, the failure to furnish Form 10CCB is a procedural defect and directory in nature. Con...