SC – Pr. CIT v. Wipro Ltd. [2022] 140 taxmann.com 223

– carry forward of loss was denied by the Revenue on the ground that the declaration under s. 10B(8) was not filed within the due date of filing of return of income

SC – CIT v. G.M. Knitting Industries (P.) Ltd. [2016] 71 taxmann.com 35

– filing of necessary forms during the assessment proceedings and before the final assessment would amount to sufficient compliance

SC – Govt. of Kerala v. Mother Superior Adoration Convent [2021] 126 taxmann.com 68

– wherein it is opined that the beneficial aspect of exemption provision shall be given effect to as the assessee made the compliance

SC – Jute Corpn. of India Ltd. v. CIT 1991 taxmann.com 30

– Eligible to claim benefit under s. 10B even in assessment proceedings, to make claims not made in the return filed by it which covers change in tax position also.

circular No. 14 (XL-35 dated 11-04-1994)

– Revenue must not take advantage of the ignorance of the taxpayer and should guide a taxpayer where they can avail some refund or relief is due to him

The requirement to furnish the declaration under s. 10B(8) within the prescribed timeline is a procedural matter, and thus warrants a lenient view if the declaration is furnished before the completion of assessment, as long as the substantive conditions are met.