https://www.taxtmi.com/caselaws?id=272044 The Tribunal emphasized the importance of filing returns within the prescribed time under Section 139(1) for claiming deduction under Section 10A of the Income-tax Act. It held that the 5th proviso to Section 10A is mandatory, requiring timely filing for eligibility. The issue was remitted to verify the due dates for filing returns. Regarding disallowances under Section 14A, the Tribunal upheld partial disallowances made by the CIT(Appeals), noting investments in foreign subsidiary companies were for commercial reasons, not to earn exempt income. The appeals filed by the Revenue were partially allowed for statistical purposes. en-us Fri, 22 Jan 2016 00:00:00 +0530 Sat, 30 Apr 2016 11:32:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272044 The Tribunal emphasized the importance of filing returns within the prescribed time under Section 139(1) for claiming deduction under Section 10A of the Income-tax Act. It held that the 5th proviso to Section 10A is mandatory, requiring timely filing for eligibility. The issue was remitted to verify the due dates for filing returns. Regarding disallowances under Section 14A, the Tribunal upheld partial disallowances made by the CIT(Appeals), noting investments in foreign subsidiary companies were for commercial reasons, not to earn exempt income. The appeals filed by the Revenue were partially allowed for statistical purposes. Case-Laws Income Tax Fri, 22 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272044