In the case of National Contracting Company (India) Private Limited vs. Deputy Commissioner of Income Tax (DCIT), the Chennai Income Tax Appellate Tribunal (ITAT) delivered a ruling. On June 24, 2024, the decision, pronounced, addresses the problem of whether a wrong classification in an Income Tax Return (ITR) can result in the refusal of a legitimate deduction. Case Overview: National Contracting Company (India) Private Limited, the appellant, filed its income return for the AY 2020-21 on December 18, 2020, declaring a total income of Rs 38,10,910. The Centralized Processing Center…