2026 (4) TMI 1781

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....ar 2018-19 on 24.09.2025 wherein the Appeal filed by the Assessee against the rectification order passed u/s. 154 of the Income Tax Act, 1961 (the Act) by the Central Processing Centre, Bangalore on 11.09.2020 was partly allowed. 2. The Assessee is aggrieved with the same and has raised following grounds of Appeal:- i. The impugned order passed by the Ld. A.O. and Ld. CIT(A), to the extent prejudicial to the Appellant, is not justified in law and on the facts and circumstances of the case. ii. The order of the learned Asst Director of Income Tax, CPC dated 11/09/2020 in so far as it is against the Appellant is opposed to law, weight of evidence, natural justice, probabilities, facts and circumstances of the Appellant&#3....

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.... Rs. 29,05,809/-) On the basis of the above grounds and other grounds which may be urged at the time of hearing with the consent of the Honorable Tribunal, it is prayed that the order passed under section 143(3) of the Act, as upheld by the Commissioner of Income Tax (Appeals), be quashed and relief sought be granted 3. The only grievance of the Assessee is that deduction u/s. 10AA of the Act has been disallowed by the Assessee for not filing form no. 56F along with the return of income u/s. 139(1) of the Act and therefore the Ld. CPC did not grant the benefit of the above deduction. 4. Briefly stated the facts of the case shows that Assessee is a private limited company who filed its return of income on 30.11.2018 at a total....

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.... application u/s. 154 of the Act on 26.06.202 which was rejected. Thus, the disallowance of deduction u/s. 10AA was confirmed. 7. The Assessee preferred an Appeal before the Ld. CIT(A) who passed an order dismissing the Appeal of the Assessee. It was held by him as per the Income Tax Act, if a thing is said to be done in a particular manner it shall be done in that manner and therefore the addition was confirmed. Now, the Assessee is aggrieved and is in Appeal before us. 8. The Ld. Authorized Representative Shri Siddesh N Gaddi, CA submitted a paper book along with several judicial precedents submitting mainly that filing of form no. 56 is mandatory, but the date and time limit is directory in nature. He relied upon the decision of th....

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....have carefully considered the rival contentions and perused the orders of the Ld. Lower Authorities. We have carefully perused the decision of the Hon'ble Madras High Court rendered by the Hon'ble Chief Justice on 03.06.2025 in TCA No. 87/2025 in case of M/s. Astrotech Steels Private Limited is dealt with the two questions of law. The first question referred before the Hon'ble High Court was whether the Tribunal was justified in allowing the Assessee's claim of deduction u/s. 10AA of the Act when Assessee has failed to file a statutory from 56F within the time limit prescribed by the statute. The second question of law was whether the filing of form no. 56F was directory in nature which is contrary to the decision of the Hon'ble Supreme Cou....