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Issues: Whether deduction claimed under section 80IA of the Income-tax Act, 1961 can be denied at processing under section 143(1) solely because Form No.10CCB was not uploaded by the prescribed time when the return was filed on or before the due date and Form No.10CCB was uploaded before processing and the tax auditor certified the claim.
Analysis: Relevant statutory framework includes the requirement to furnish return by the due date under section 139(1), the conditions for allowance of deductions under the Chapter (including section 80IA) and the non-obstante/limitation provisions reflected in section 80AC and section 80A(5), and the processing of returns under section 143(1). Judicial precedents establish that filing of Form No.10CCB is a procedural compliance and that a deduction claimed in a return filed on or before the due date (and supported by auditor certification) is not to be defeated merely for delay in filing the certificate/form, especially where the form was filed before processing. On the facts, the return was filed within the due date, the auditor certified the deduction in Form 3CD, Form No.10CCB was uploaded before processing of the return, and therefore the procedural omission did not extinguish substantive entitlement to the deduction. The matter of quantification of the eligible deduction was remitted for verification of financial statements and to afford opportunity for determination of correct quantum.
Conclusion: Deduction under section 80IA is allowable to the assessee despite the delayed upload of Form No.10CCB; the assessing officer is directed to compute tax in accordance with section 115JB of the Income-tax Act, 1961 after verifying and determining the correct quantum of deduction.
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