ACIT vs Talbotforce Services Pvt. Ltd.
Parties Involved
Facts Summary
The case pertains to the disallowance of a deduction of Rs. 5,76,83,963/- claimed by Talbotforce Services Pvt. Ltd. under section 80-IAC of the Income Tax Act, 1961. The assessee, a Private Limited Company recognized as a START UP, filed its return of income for AY 2023-24 on 30.09.2023. The deduction was denied by the CPC, Bengaluru on the ground that the Audit Report in Form 10CCB was not filed within the due date. The assessee argued that the delay was due to a technical glitch on the Income Tax Department's portal and that they had attempted to submit the report physically and via email. The CIT(A) reversed the CPC's decision, allowing the deduction.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the CIT(A) erred in deleting the addition of Rs. 5,76,83,963/- on account of disallowance under section 80-IAC due to the non-filing of Form 10CCB before the due date.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
1 precedent cited in this judgement.
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