Loading judgment…
No AI summary yet for this case.
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.
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.
The appeal stands dismissed.
Order pronounced on 07th September, 2022.