IIFL SAMASTA FINANCE LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-(1)(1), BANGALORE

ITA 18/BANG/2025Status: DisposedITAT Bangalore26 June 2025AY 2023-24Bench: SHRI LAXMI PRASAD SAHU (Accountant Member), SHRI KESHAV DUBEY (Judicial Member)1 pages
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What did the Tribunal hold?

The Tribunal held that while filing Form 10DA on time is mandatory, its late filing, if the form was ready and available before the processing of the return, should not lead to the denial of the deduction. The issue of quantification of the deduction was remitted back to the AO.

What were the facts?

The assessee, a micro-finance NBFC, claimed a deduction under Section 80JJAA. The return was filed on time, but Form 10DA was uploaded on the same day as the return, which was later than the due date for filing the tax audit report.

What were the issues?

Whether the deduction under Section 80JJAA can be denied solely due to the late filing of Form 10DA, and if the quantification of the deduction needs verification by the AO.

Which sections of the Income-tax Act were involved?

Section 80JJAA,Section 139(1)

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Income Tax Appellate Tribunal, “A’’BENCH: BANGALORE

Before: SHRI LAXMI PRASAD SAHU & SHRI KESHAV DUBEY

For Respondent: Smt. Srinandini Das, D.R
Hearing: 07.04.2025Pronounced: 26.06.2025

PER KESHAV DUBEY, JUDICIAL MEMBER:

This appeal at the instance of the assessee is directed against the order of the ld. ADDL/JCIT(A)-2, Gurugram dated 27.11.2024 vide DIN & Order No. ITBA/APL/S/250/2024-25/1070676153(1) passed u/s 250 of the Income Tax Act, 1961 (in short “the Act”) for the assessment year 2023-24. 2. The assessee has raised the following grounds of appeal: IIFL Samasta Finance Limited, Bangalore IIFL Samasta Finance Limited, Bangalore 3. Brief facts of the case are that the assessee is in the business of micro-finance, registered under Reserve Bank of India as NBFC. The assessee company fil

The order continues below.

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