Zenith Processing Mills v. CIT

True Sparrow Sysytem Pvt. Ltd, Vadodara vs. The Pr. CIT-2, Vadodara

In the result, we hold that the Ld

…m 89 (Mum), the Mumbai Tribunal held that deduction under section 10A cannot be denied merely because at time of filing of return, claim had mistakenly been made under section 10B of the Act. The Gujarat High Court in the case of Zenith Processing Mills v CIT 219 ITR 721 (Guj) held that provision of section 80J(6A) to extent it requires furnishing of auditor's report in prescribed form along with return, is directory in nature and not mandatory. Further, assessee can be permitted to produce such report at later stage when question of disallowance arises during course of assessment proceedings. In the instant case…

Nayab International, Vadodara vs. The Asstt. Commissioner of Income Tax, Circle-1(3), Vadodara

In the result, the appeal of the assessee is partly allowed

…ble Madras High Court in the case ofCIT vs. A.M. Arunachalam, 208ITR 481 (Mad.). There are other decisions of other Courts taking the same view as under: - (ii) CIT vs. Shivanand Electricals (1994) 209 ITR 63 (Bom.), (ii) Zenith Processing Mills v. CIT (1996) 219 ITR 721 (Guj.), (Hi) CIT Vs. Jayant Patel (2001) 248 ITR 199 (Mad.). (iv) CIT Vs Mahalaxmi Rice Factory (2007) 294 ITR 631 (P&H). Referring to the aforesaid decisions, the Hon'ble Jurisdictional Delhi High Court in the case of CIT vs. Contimeters Electricals Pvt. Ltd. (2009) 317 ITR 249 (Delhi) has also taken a view that requirement of filing the audit r…

M/S. Third Eye Enterprise, Ahmedabad vs. The Pr. CIT-3, Ahmedabad

The appeal of the assessee is dismissed

Bench: Shri Pradip Kumar Kedia & Shri Mahavir Prasadआयकर अपील सं./I.T.A. No. 1214/Ahd/2017 ("नधा"रण वष" / Assessment Year : 2012-13)

…ied out prior to grant deduction under s.10AA of the Act. The learned AR relied on certain judicial precedents to prop up its case. The learned AR referred to the decision of the Hon’ble Gujarat High Court in the case of Zenith Processing Mills vs. CIT (1996) 219 ITR 721 (Guj) for the proposition that filing of prescribed form for claiming relief is only directory in nature and it will be sufficient if such report is furnished by the assessee on being pointed out about the defect. The learned AR accordingly sought reversal of the action of the Pr.CIT. 6. The learned DR, on the other hand, relied upon the order o…