Courier transshipment of imported goods via named carrier to air cargo stations renewed until 30.01.2026; exemption conditional, strict controls apply...
Insurer's investment gains and investment write-downs face Section 263 revision; enquiry upheld, Rule 5(b)(ii) lapse sustained, late corrigendum quash...
Deduction under s.10AA was denied on processing on the ground that the audit report in Form 56F was not filed along with the return within the prescribed time. It was held that Form 56F was filed within the extended due date notified by CBDT, and therefore could not be treated as belated for denying the s.10AA claim; the first appellate authority correctly allowed the deduction. It was further held that, for the relevant AY, s.10AA benefit is not contingent on filing the return within the due date under s.139(1), and a return filed under s.139(4) does not bar the claim. The disallowance was set aside and relief to the assessee sustained. - ITAT
Deduction under s.10AA was denied on processing on the ground that the audit report in Form 56F was not filed along with the return within the prescribed time. It was held that Form 56F was filed within the extended due date notified by CBDT, and therefore could not be treated as belated for denying the s.10AA claim; the first appellate authority correctly allowed the deduction. It was further held that, for the relevant AY, s.10AA benefit is not contingent on filing the return within the due date under s.139(1), and a return filed under s.139(4) does not bar the claim. The disallowance was set aside and relief to the assessee sustained. - ITAT
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