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.