Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2010 (7) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2010 (7) TMI 619 - ITAT, DELHIDeduction u/s 10B - During the year consideration, the assessee has claimed exemption u/s 10B of the Income Tax Act of Rs. 2,06,36,797 - Ld. Departmental Representative pointed out that in section 10(b)(i) by Finance Act, 2006 a proviso has been inserted from 1-4-2006 which specifically provides that no deduction under this section shall be allowed to assessee who has not furnished any return of income on or before the due date - Act envisages that relief regarding exemption should be considered and granted when application is made after the specified period in cases of genuine hardship clearly indicates that provision in this regard is directory and not mandatory – Accordingly AO is directed to examine the merits of the assesseee’s claim of exemption u/s 10B – Appeal filed by revenue is allowed for statistical purposes
|