2008 (12) TMI 15 - HC - Income Tax

Interpretation of Section 10A (5) which is virtually identical to Section 80IA (7) as also 80HHB (3) (ia). It is also identical to provisions of Section 80J (6A) - contention of the revenue was that unless and until the audit report is filed along with the return, the benefit of Section 10A cannot be available to the assessee, is not acceptable - held that the provisions are directory and not mandatory - No substantial question of law arises for our consideration - appeal is dismissed.

Summary

The High Court of Delhi interpreted Section 10A (5) of the Income Tax Act, holding it to be directory, not mandatory. The Court found that filing the audit report before assessment is sufficient for compliance. The appeal was dismissed as no substantial question of law arose.