IT : Deduction under section 32AB claimed by assessee cannot be disallowed on ground that assessee had not filed audit report along with return
■■■
[2015] 54 taxmann.com 321 (Madras)
HIGH COURT OF MADRAS
Commissioner of Income-tax, Chennai
v.
Ramani Realtors (P.) Ltd.*
R. SUDHAKAR AND R. KARUPPIAH, JJ.
T.C.(A) NO. 730 OF 2014†
DECEMBER 22, 2014
Section 32AB of the Income-tax Act, 1961 - Investment deposit account (Audit report) - Assessment year 2005-06 - Whether filing of audit report along with return is only directory and not mandatory; deduction claimed by assessee under section 32AB(5) could not be disallowed only on ground that assessee had not filed audit report along with return - Held, yes [Para 7] [In favour of assessee]
■■■
[2015] 54 taxmann.com 321 (Madras)
HIGH COURT OF MADRAS
Commissioner of Income-tax, Chennai
v.
Ramani Realtors (P.) Ltd.*
R. SUDHAKAR AND R. KARUPPIAH, JJ.
T.C.(A) NO. 730 OF 2014†
DECEMBER 22, 2014
Section 32AB of the Income-tax Act, 1961 - Investment deposit account (Audit report) - Assessment year 2005-06 - Whether filing of audit report along with return is only directory and not mandatory; deduction claimed by assessee under section 32AB(5) could not be disallowed only on ground that assessee had not filed audit report along with return - Held, yes [Para 7] [In favour of assessee]
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