https://www.taxtmi.com/caselaws?id=770904 The Tribunal allowed the taxpayer's appeal regarding deduction under section 10B of the Income-tax Act. The AO had denied the deduction because the claim was made only in the revised return and not the original return, and the audit report was filed after the original return's due date. The Tribunal held that a validly filed revised return substitutes and obliterates the original return for all purposes, making claims therein valid. Additionally, the time limit for filing the audit report is directory, and filing before assessment completion constitutes sufficient compliance. The matter was remitted to the AO to examine other substantive conditions under section 10B. en-us Wed, 14 May 2025 00:00:00 +0530 Wed, 02 Jul 2025 18:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=770904 The Tribunal allowed the taxpayer's appeal regarding deduction under section 10B of the Income-tax Act. The AO had denied the deduction because the claim was made only in the revised return and not the original return, and the audit report was filed after the original return's due date. The Tribunal held that a validly filed revised return substitutes and obliterates the original return for all purposes, making claims therein valid. Additionally, the time limit for filing the audit report is directory, and filing before assessment completion constitutes sufficient compliance. The matter was remitted to the AO to examine other substantive conditions under section 10B. Case-Laws Income Tax Wed, 14 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=770904