https://www.taxtmi.com/caselaws?id=423348 The High Court of Madras ruled in favor of the assessee in a tax case appeal regarding the interpretation of Section 80IA(7). The Court held that prior to the 2020 amendment, filing the audit report along with the return of income was not mandatory but directory. Since the assessee had submitted the audit report during the assessment for the relevant year, complying with the Section 80IA(7) requirement, the Court upheld the decisions of the CIT(A) and the Tribunal. The Court emphasized that the assessee's entitlement to claim deduction under Section 80IA could be supported even if the audit report was filed at a later stage, ultimately dismissing the Tax case Appeal filed by the Revenue. en-us Mon, 04 Apr 2022 00:00:00 +0530 Sat, 04 Jun 2022 08:33:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=423348 The High Court of Madras ruled in favor of the assessee in a tax case appeal regarding the interpretation of Section 80IA(7). The Court held that prior to the 2020 amendment, filing the audit report along with the return of income was not mandatory but directory. Since the assessee had submitted the audit report during the assessment for the relevant year, complying with the Section 80IA(7) requirement, the Court upheld the decisions of the CIT(A) and the Tribunal. The Court emphasized that the assessee's entitlement to claim deduction under Section 80IA could be supported even if the audit report was filed at a later stage, ultimately dismissing the Tax case Appeal filed by the Revenue. Case-Laws Income Tax Mon, 04 Apr 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=423348