2013 (2) TMI 320

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....respondent. Barin Ghosh, C.J. (Oral) Section 80AC of the Indian Income Tax Act, 1961 (hereinafter referred to as 'the Act') is as follows: "Where in computing the total income of an assessee of the previous year relevant to the assessment year commencing on the 1st day of April, 2006 or any subsequent assessment year, any deduction is admissible under section 80-IA or section 80-IAB or se....

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....thin the extended period, admittedly, the return was filed. Section 139(4) of the Act is as follows: "Any person who has not furnished a return within the time allowed to him under sub-section (1), or within the time allowed under a notice issued under sub-section (1) of section 142, may furnish the return for any previous year at any time before the expiry of one year from the end of the relev....

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....he deductions admissible under Section 80IB or under Section 80IC of the Act, as were claimed by him. 5. Learned counsel submitted that Sections 80IB and 80IC, being beneficial statute, Section 80AC must be construed liberally and, having regard to what has been provided in Section 139(4), in the event compliance thereof, the assessee must be accorded the benefits of Sections 80IB and 80IC of t....