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Tax Publishers
Midland Credit Management India (P) Ltd. v. Addl.
CIT [ITA No. 3892/DEL/2017, dt. 14-9-2020] : 2020 TaxPub(DT) 3677 (Del.-Trib.)
Allowability of section 10A deduction by raising invoices
after year end without amending audited accounts
Facts:
Assessee had raised invoices after year end and then
claimed before Commissioner (Appeals) that these pertain to the assessment year
under appeal. The Commissioner (Appeals) negated the claim citing that these
invoices featured only in the computation of income and even the audited
financial numbers did not contain these invoices. On higher appeal to ITAT -
Held in favour of the assessee that they were entitled to
section 10A deduction on the additional invoices raised after the year end and
only claimed in the computation of income before Commissioner (Appeals). The
plea of the assessee was that they could not revise the audited financials due
to this genuine mistake which found favour with the ITAT.
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