https://www.taxtmi.com/caselaws?id=433799 The Appellate Tribunal ITAT Pune ruled in favor of the assessee, an HUF, allowing the deduction u/s.80IA(7) and permitting the carry forward of short term capital loss. The Tribunal held that the assessee, despite filing the return after the initial due date, was within the extended deadline and thus eligible for the benefits claimed. The decision emphasized that entities like HUFs fall under the definition of 'person' in Explanation 2 to section 139(1) when their accounts are audited, ensuring that legitimate benefits are not denied based on narrow interpretations. en-us Tue, 07 Feb 2023 00:00:00 +0530 Thu, 09 Feb 2023 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433799 The Appellate Tribunal ITAT Pune ruled in favor of the assessee, an HUF, allowing the deduction u/s.80IA(7) and permitting the carry forward of short term capital loss. The Tribunal held that the assessee, despite filing the return after the initial due date, was within the extended deadline and thus eligible for the benefits claimed. The decision emphasized that entities like HUFs fall under the definition of 'person' in Explanation 2 to section 139(1) when their accounts are audited, ensuring that legitimate benefits are not denied based on narrow interpretations. Case-Laws Income Tax Tue, 07 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433799