Filing of Audit Report before Framing Income Tax Assessment is Deemed Fulfilment of Section 80-IA(7) Requirement: Delhi HC [Read Order]

The Delhi High Court has ruled that the submission of an audit report before the framing of an income tax assessment is considered a fulfilment of the requirements under Section 80-IA(7) of the Income Tax Act.
By Manu Sharma - On August 7, 2024 7:07 pm - 2 mins read
delhi hc - income tax - it - Income Tax Assessment Framing - Filing of Audit Report - delhi highcourt - audit report - Income Tax Assessment - Tax Assessment - Section 80-IA(7) – taxnews - taxscan

The Delhi High Court has ruled that an assessee is eligible for exemptions under Sections 11(1) and 11(2) of the Income Tax Act, and a procedural omission like not filing the audit report with the return of income cannot legally impede claiming the exemption. The petitioner, a company registered under Section 8 of the Companies…

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