9911796707
TMI Blog2025 (1) TMI 180X X X X Extracts X X X X X X X X Extracts X X X X ..... denied even though the assessee has duly furnished Form 56F in the prescribed Form by Chartered Accountant. Disallowance of the deduction claimed u/s 10AA of the Act arose due to a technical glitch/inadvertently the deduction could not be filled in the appropriate column of computation of Income. But the total income has been computing by allowing claimed deduction only. Upon reviewing the submissions made by the appellant and examining the data available on the system, the prima facie of the appellant's case is found to be acceptable as per the order of the Ld. Addl./JCIT(Appeals). No valid reason to interfere with the findings given for allowing the claim of deduction u/s 10AA of the Act to the assessee which was otherwise denied due ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e total income in the same schedule of computation of income was duly computed after considering the deduction claimed u/s 10AA of the Act. Accordingly the assessee correctly mentioned its taxable income. It is further submitted that in schedule AMT pt 2(b) of ITR V duly reflects the deduction u/s 10AA of the Act and the adjusted total income u/s 115JC and the tax thereon has also been duly shown in the said schedule. Therefore, it is submitted that in the electronic filing environment technical mistakes are bound to occur due to reasons beyond the control of the human being and the bona fide claim must be allowed sans such errors. The online filing system being new and the technical glitches and errors cannot be ruled out. Ld. Counsel ther ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... wherein, deduction under section 10AA has been duly claimed by filing form 56F 29C. The same hits been unloaded on the Income: Tax Portal along with the return of income and form 29C [for computation of AMT u/s 115JC] before the due date of filing tax return. Alter claiming the said deduction, the assessee has declared total income of Rs. 3,05,31,560/- as per the acknowledgement ITR-V attached as PB-1. Accordingly, there is an omission of bona fide claim of deduction for AY 2018-19. 1.3 In Form 29C supra, while computing the AMT, the assessee has considered deduction claimed under section 10AA as per section 115JD of the Act. The same was available in records while processing the ITR under section 143(1) (PB 67-71). Further, the respective ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Chapter VI-A under the heading C Deduction in respect of certain incomes 2a 0 b Deduction claimed u/s 10AA 2b 30336727 c Deduction claimed u/s 35AD as reduced by the amount of depreciation on which such deduction is claimed 2c 0 d Total Adjustment (2a+2b+2c) 2d 30336727 3 Adjusted Total Income under section 115JC(1)+(1+2d) 3 60868287 4 Tax payable under section 115JC[18.5% of (3)](In the case of Individual HUF, AOP, BOI AJP this is applicable if 3 is greater than Rs. 20 lakhs) 4 11260633 It would thus be seen that the assesses has claimed and thereafter added back deduction u/s 10AA while computing the adjusted total income for payment of AMT which has been duly shown in the income tax return filed by the assesses. Further extract of Part B ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Appeal No.1, 2, 3:- All these grounds of appeal are related with the addition of Rs. 3,03,36,727/- on account of disallowance of deduction claimed under section 10AA of the Income Tax Act, 1961, hence, discussed together. Upon thorough consideration of the reply and submissions provided by the assessee, it has been noted that the appellant firm is duly registered with NSEZ Noida and qualifies for deduction under section 10AA of the Income Tax Act, 1961. Additionally, the assessee has timely filed Form 56F vide Acknowledgement no 316144901300918 and 29C before the due date of the return filing for Assessment Year 2018-2019 i.e., 30.09.2018. Appellant has declared total income of Rs. 3,05,31,560/- after claiming the above referred deductio ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
