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Facts
The Revenue appealed against the CIT(A)'s orders concerning assessment orders for AY 2016-17 and 2018-19. The appeals revolved around disallowance of deduction under Section 80IC, depreciation, and addition for bogus expenses, issues previously decided in the assessee's favor by the ITAT.
Held
The Tribunal, following its own prior decisions and other judicial pronouncements, held that the disallowance of deduction under Section 80IC and depreciation was unsustainable. It also allowed the Section 80IC deduction claim despite the delayed filing of the return, viewing it as a procedural irregularity.
Key Issues
Whether disallowances of Section 80IC deduction and depreciation were justified and if a Section 80IC claim is allowable despite delayed return filing.
Sections Cited
143(3), 80IC, 69C, 133A, 80IB, 139, 80AC, 44AB, 115JB
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Before: SHRI ANIKESH BANERJEE & SHRI PRABHASH SHANKAR
PER PRABHASH SHANKAR [A.Μ.] :- The above captioned appeals preferred by the Revenue emanate from the orders passed by the Learned Commissioner of Income-tax, Appeal, CIT(A) 49, Mumbai [hereinafter referred to as “CIT(A)