https://www.taxtmi.com/caselaws?id=269308 The Tribunal upheld the AO's denial of deduction under Sec.80IB, emphasizing the mandatory nature of Sec.80AC provisions. The decision highlighted the importance of timely filing of returns, ruling that late filing attracts interest and affects deductions. The Tribunal reversed the CIT(A)'s decision, emphasizing adherence to statutory timelines for claiming deductions. The case outcome favored the Revenue, emphasizing compliance with the Income Tax Act's provisions on deductions and timely filing. en-us Fri, 07 Aug 2015 00:00:00 +0530 Fri, 11 Dec 2015 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269308 The Tribunal upheld the AO's denial of deduction under Sec.80IB, emphasizing the mandatory nature of Sec.80AC provisions. The decision highlighted the importance of timely filing of returns, ruling that late filing attracts interest and affects deductions. The Tribunal reversed the CIT(A)'s decision, emphasizing adherence to statutory timelines for claiming deductions. The case outcome favored the Revenue, emphasizing compliance with the Income Tax Act's provisions on deductions and timely filing. Case-Laws Income Tax Fri, 07 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269308