Infrastructure facility: energy-efficient public lighting held integral to road projects, qualifying the operator as a developer and eligible for dedu...
Fourth Proviso to Section 153A: extended-period inquiry requires a reasonable, material-based satisfaction that escaped income likely exceeds the thre...
Deduction under section 35AD could not be denied merely because Form No. 10CCB was not filed with the return, where the audit report was furnished before completion of the fresh assessment proceedings. The Tribunal treated the filing requirement as directory, relying on precedent that submission before assessment completion is sufficient. It rejected the Revenue's distinction between original and fresh assessment under section 263, holding that restored proceedings are to be considered afresh and all material filed before completion must be examined. The assessee's disclosure of the claim in the return and tax audit report, together with waiver of depreciation, supported substantive compliance, so the disallowance was unsustainable.
Deduction under section 35AD could not be denied merely because Form No. 10CCB was not filed with the return, where the audit report was furnished before completion of the fresh assessment proceedings. The Tribunal treated the filing requirement as directory, relying on precedent that submission before assessment completion is sufficient. It rejected the Revenue's distinction between original and fresh assessment under section 263, holding that restored proceedings are to be considered afresh and all material filed before completion must be examined. The assessee's disclosure of the claim in the return and tax audit report, together with waiver of depreciation, supported substantive compliance, so the disallowance was unsustainable.
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