TaxTMI 
TaxTMI 
TaxTMI 
2011 (11) TMI 76
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....owable to the appellant unless return of income is filed on or before the due date specified u/s 139(1) i.e. original return. Since the appellant has failed to claim the deduction in the original return, no deduction is allowable to him ignoring the fact that there was a technical error while uploading the return on e-filing system and subsequently revised return within time had been filed to rectify the error." 3. The brief facts of the case are that the assessee is engaged in the manufacture of pet bottles and pre form. During the course of assessment proceedings the assessee explained the manufacturing process carried on by it which is incorporated under para 4.1 at pages 2 & 3 of the assessment order. The Assessing Officer vide para 5.....
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....d revised the return of income on 10.3.2008. 4. The CIT (A) upheld the order of the Assessing Officer. 5. The assessee is in appeal against the order of the CIT (A). The learned A.R. for the assessee pointed out that though deduction under Chapter VI-A was claimed in the original return of income but due to some system error the same was not reflected in the computation of income. Our attention was drawn to the acknowledgment of the original return of income filed by the assessee on 13.12.2007. The learned A.R. for the assessee pointed out that the gross total income vide the said return was Rs. 31,43,965/-, whereas the deduction under Chapter VI-A were reflected at nil and the balance total income was Rs. 31,43,965/- on which net tax pay....
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....llowed to the assessee unless the assessee furnishes the return of income for such assessment year on or before the due date specified under section 139(1) of the Act. The requirement of section 139(1) of the Act is a burden upon the assessee to furnish return of income in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed and such return shall furnished on or before the due date. Under Explanation-2 the due date in relation of various classes of persons are enumerated. Every person who had furnished a return under sub-section (1) or in pursuance to notice issued under section 142(1) of the Act, if discovers, any omission or wrong submission therein, may furnish revised re....
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.... u/s 139(1) of the Act. The copy of the acknowledgement of filing the return of income is filed on record by the learned A.R. for the assessee. The perusal of the said acknowledgement reveals that while e-filing the return of income the gross total income was reflected at Rs. 31,43,695/- and the total income was also reflected at the same figure of Rs. 31,43,965/- with the deduction under Chapter-VIA which reflected at nil. However, on the aforesaid total income of Rs. 31,43,965/- the net tax payable, which as per the assessee, was generated by the system itself worked out to nil. The claim of the assessee is that due to computer system error the return of income reflected total income of Rs. 31,43,965/- as against nil. On detecting the abo....
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....ore the due date of furnishing the return and to fill out all the relevant columns of these forms on the basis of such report. In case audit report has not been obtained before the due date, the provisions of section 271B shall be attracted. Another Circular No.3/2007 dated 25.5.2007 was issued by the CBDT under which it amended the Income Tax Rules i.e. substituting rule 12 by a new rule 12 and notifying new return forms for assessment year 2007-08. Sub-rule (3) of the new rule 12, provided that a firm to whom provisions of section 44AB are applicable, was required to furnish the return of income/fringe benefits in form ITR-5 and/or company was required to furnish the return of income/fringe benefits in form ITR-6, shall furnish the return....
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....n, which was the first year of e-filing of the return of income by firms to whom the provisions of section 44AB were applicable i.e. the firms having turnover of more than Rs. 40 lacs for the financial year in question. The assessee is also to furnish the audit report in connection with its claim of deduction u/s 80IC of the Act. From the perusal of the assessment order we find that the Assessing Officer has not pointed out any default in furnishing of the audit report u/s 44AB of the Act. No reference is made to non-fulfillment of conditions for claiming deduction u/s 80IC of the Act by non-furnishing of details of the audit report. Further the assessee has within the prescribed period revised its return of income and had corrected the err....