The High Court of Himachal Pradesh has allowed Sec. 80-IB deduction despite ITR being filed after the due date on account of delay in audit.
As per the HC order on 22.12.2023, when assessee filed return claiming deduction under section 80IB(10) beyond the period of limitation as per section 139(1) due to audit delay, assessee should not be burdened with taxes it was otherwise not obligated to pay under the law.
