2024 (4) TMI 1202

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....tanding Counsel for revenue ORDER PER LAXMI PRASAD SAHU, ACCOUNTANT MEMBER: This is an appeal filed against the order passed by the NFAC u/s 250 of the Income Tax Act, 1961 (in short "The Act") for the assessment year 2020-21 dated 8.2.2024 which has been filed against the assessment made u/s 143(1) of the Act by which an intimation was issued on 30.11.2021, wherein the deduction claimed u/s ....

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....ing the advance tax and the interest u/s 234C of the Act for the deferment of advance tax. 2.1. The appellate authority, NFAC in respect of deductions disallowed u/s 11 & 12 of the Act, had held that Form 10B is the statutory form and it is mandatory on the part of the assessee to file the report in form 10B along with return of income and following the order of ITAT Ahmedabad Bench reported in (....

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....in rejecting the claim of deduction was reversed by the Hon'ble High Court of Gujarat in its judgement dated 21.3.2023 in Tax Appeal No.655 of 2022. The assessee also produced the copy of judgement of Gujarat High Court in support of his argument. 3. We have heard the rival submissions and perused the materials available on record. Admittedly, in this case, the report in form 10BB was inadvertent....