TaxTMI 
TaxTMI 
2015 (10) TMI 795
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.... engaged in the business of software development and selling of V-Tel cards. For the AY.2006-07, the assessee filed its return of income on 21-12-2006 declaring total income of Rs. 3,39,38,191/-. The assessee in its return of income had claimed deduction u/s.10A of the Income Tax Act, 1961 (herein after referred to as 'the Act'). The case of the assessee was selected for scrutiny and notice u/s.143(2) was issued. The Assessing Officer vide assessment order dt.31-12- 2008 held that the assessee is not eligible to claim deduction u/s.10A inter alia for the following reasons: i. The assessee has not filed special audit report in the prescribed form No.56F; ii. The assessee had not produced an....
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.... were dismissed by the CIT(Appeals) for non-prosecution. 5. Shri G.Gopalan, appearing on behalf of the assessee submitted that the assessee had filed manual return of income for the AY.2006-07 on 30-11-2006. Thereafter, the assessee filed electronic return for the AY under consideration on 21-12-2006. The delay in filing e-return was only a procedural lapse. The assessee had complied with the substantive provision by filing manual return within the prescribed time limit. As far as AYs.2007- 08 & 2008-09 are concerned, the ld.AR submitted that the CIT(Appeals) has dismissed the appeal of the assessee for both the AYs for non-prosecution. The Authorised Representative of the assessee was not keeping good health. Subsequently, he died on ac....
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....it is mandatory for all the assessees who are claiming deduction u/s.10A, to furnish return of income on or before due date specified u/s.139(1) of the Act. As per the provisions of the Act as applicable for the AY under consideration, the due date of filing of the return was 30-11-2006. The assessee filed e-return of income on 21-12-2006. The ld.DR further pointed out that the Assessing Officer has mentioned several other shortcomings in the claim of the assessee. The assessee has not furnished Special Audit Report in form No.56F, no evidence has been filed to show that foreign exchange was remitted within the time limit, copy of STPI certificate was not furnished etc. As far as AYs.2007-08 & 2008-09 are concerned, the ld.DR contended t....
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....utory time limit. From perusal of the orders of the authorities below, we find that it is not the delay in filing of the return alone which has made the assessee ineligible to claim deduction u/s.10A. The assessee has not been able to comply with other conditions as laid down in the section to be eligible to claim deduction. The assessee was not able to furnish a copy of special audit report in the prescribed form; No evidence was brought to show that the export proceeds were received in India in convertible foreign exchange within the specified time, no evidence was brought on record to show that assessee was rendering services from STPI unit. Although the assessee has submitted before the CIT(Appeals) that Form No.56F was filed along w....