BIZDATA TECHNOLOGIES PVT. LTD.,CHENNAI vs. ITO CORPORATE WARD 1(1), CHENNAI

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ITA 1135/CHNY/2018Status: DisposedITAT Chennai07 September 2022AY 2011-122 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that approval from the appropriate authority is mandatory to claim deduction under Section 10B. Since no supporting documents were provided, the appeal was dismissed.

What were the facts?

The assessee claimed a deduction of Rs. 47.03 Lacs under Section 10B of the Income Tax Act. This deduction was denied by the Assessing Officer and upheld by the CIT(A) for lack of approval from the appropriate authority.

What were the issues?

Whether deduction under Section 10B is allowable without obtaining approval from the appropriate authority.

Which sections of the Income-tax Act were involved?

Section 10B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘C’ BENCH, CHENNAI

Before: HON’BLE SHRI MAHAVIR SINGH & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2011-12 arises out of the order of learned Commissioner of Income Tax (Appeals)-3, Chennai [CIT(A)] dated 29-12-2017 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s.143(3) of the Act on 07-02-2014. The only grievance of the assessee is denial of deduction u/s 10B. 2. The registry has noted a delay of 35 days in the appeal, the condonation of which has been sought by Ld. AR. Considering the 2 - period of delay, we condone the delay and admit the appeal for adjudication on merits.

3.

Upon perusal of impugned order, it could be noted that deduction of Rs.47.03 Lacs has been claimed by the assessee u/s 10B without getting the approval of appropriate authority. The Ld. CIT(A), relying upon the decision of Hon’ble High Court of Madras in the case of CIT V/s Live Connection Software Solutions Pvt. Ltd. (370 ITR 356), held that the approval was mandatory to claim this deduction. Aggrieved, the assessee is in further appeal before us wherein the position is the same. No document supporting the claim has been placed before us. Therefore, finding no substance in the appeal, we dismiss the same.

4.

The appeal stands dismissed.

Order pronounced on 07th September, 2022.

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