https://www.taxtmi.com/caselaws?id=211498 The Tribunal upheld the disallowance of deductions claimed under Section 80IB for AY 2006-07 and AY 2007-08 due to late filing of returns, as mandated by Section 80AC. The Tribunal emphasized the mandatory nature of Section 80AC, rejecting arguments for liberal interpretation. Consequently, interest charges under Sections 234A, 234B, 234D, and 244A were upheld. The appeals and stay applications by the assessee were dismissed for both assessment years. en-us Fri, 16 Dec 2011 00:00:00 +0530 Wed, 20 Apr 2016 15:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=211498 The Tribunal upheld the disallowance of deductions claimed under Section 80IB for AY 2006-07 and AY 2007-08 due to late filing of returns, as mandated by Section 80AC. The Tribunal emphasized the mandatory nature of Section 80AC, rejecting arguments for liberal interpretation. Consequently, interest charges under Sections 234A, 234B, 234D, and 244A were upheld. The appeals and stay applications by the assessee were dismissed for both assessment years. Case-Laws Income Tax Fri, 16 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=211498