https://www.taxtmi.com/caselaws?id=759764 The ITAT ruled in favor of the assessee, allowing the deduction under section 80JJAA of the Income-tax Act, 1961, despite the late filing of the audit report in Form 10DA. The Tribunal set aside the order of the CIT(A), directing the AO to grant the claimed deduction, referencing the precedent set by the Supreme Court in the G. M. Knitting Industries case. The decision distinguished between exemption and deduction provisions, concluding that the latter allows for more flexibility in compliance. The assessee's appeal was thus allowed, and the decision was pronounced on 03.10.2024. en-us Thu, 03 Oct 2024 00:00:00 +0530 Mon, 13 Apr 2026 12:44:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=759764 The ITAT ruled in favor of the assessee, allowing the deduction under section 80JJAA of the Income-tax Act, 1961, despite the late filing of the audit report in Form 10DA. The Tribunal set aside the order of the CIT(A), directing the AO to grant the claimed deduction, referencing the precedent set by the Supreme Court in the G. M. Knitting Industries case. The decision distinguished between exemption and deduction provisions, concluding that the latter allows for more flexibility in compliance. The assessee's appeal was thus allowed, and the decision was pronounced on 03.10.2024. Case-Laws Income Tax Thu, 03 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=759764