9911796707
TMI Blog2024 (12) TMI 818X X X X Extracts X X X X X X X X Extracts X X X X ..... legislative intent behind Section 10AA of the Act is to promote exports and economic activity in SEZs, and procedural delays should not defeat substantive claims, particularly when the required documentation is on record before the completion of assessment. We hold that the disallowance of the deduction u/s 10AA is not justified, as the delay in filing Form 56F is a procedural lapse that does not go to the root of the claim. The deduction is restored without any necessity for remand. Accordingly, the ground of appeal of the assessee is allowed. - Ms. Suchitra Kamble, Judicial Member And Shri Makarand V. Mahadeokar, Accountant Member For the Assessee : Shri Chetan Agarwal, AR For the Revenue : Shri Nitin Vishnu Kulkarni, Sr.DR ORDER PER M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... a mandatory condition for claiming the deduction under Section 10AA of the Act. 4. Aggrieved by the order of the CIT(A), the assessee is in appeal before us with following grounds of appeal: 1. Ld. CIT(A) erred in law as well as on fact in upholding disallowance of exemption of Rs. 26,81,185 claimed u/s. 10AA solely because form no. 56F was filed on 22.11.2017 not along with return of income filed u/s. 139(1) on 07.11.2017 as denied by CPC, Bengaluru in order u/s 143(1) and subsequent rectification application u/s154. 4.1. During the course of hearing before us, the Authorized Representative (AR) of the assessee contended that the filing of Form 56F is procedural and directory in nature. The AR further highlighted that Form 56F was filed on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd Allied Industries (supra) held that procedural non-compliance should not override substantive compliance if the required documents are submitted before the completion of assessment. The Co-ordinate Benches in the case of M/s. Vishnu Exports (supra) and Arvind Kumar Agarwal (supra) also emphasized that the provisions of Section 10AA of the Act should be construed liberally to advance the legislative intent of promoting SEZs. 6.1. Form 56F, filed on 22.11.2017, serves as a crucial certification by an independent Chartered Accountant, attesting to the correctness of the claim made under Section 10AA of the Act. The form was submitted well before the issuance of the intimation under Section 143(1) of the Act on 24.09.2018. This establishes t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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