1999 (6) TMI 3

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....e-tax Act, 1961, requiring the Income-tax Appellate Tribunal to refer the following question stated to be question of law for opinion of this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the claim of the assessee under section 80-I is justified even if he had not filed the audit report in Form No. 10CCB along with a return....

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....High Court in CIT v. Gujarat Oil and Allied Industries [1993] 201 ITR 325. We find ourselves in agreement with the view taken because filing of the audit report during the assessment proceedings by the assessee amounts to substantial compliance with the statutory requirement under section 80-I(7). It would be too technical to disallow deduction merely on the ground that the audit report was not at....