TaxTMI 
TaxTMI 
2021 (3) TMI 158
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.... file perused. 2. The Revenue has raised the following substantive grounds in the instant appeal. "1. Whether in the facts and circumstances of the case, Ld. CIT(A) is correct in law in allowing the claim of deduction u/s. 80IA of the Income Tax Act, 1961. 2. Whether in the facts and circumstances of the case, Ld. CIT(A) is correct in law in directing the Assessing officer to allow the deduction u/s. 80IA claimed by the assessee since the assessee failed to comply to the provision of sec. 80IA(7) of the Act. 3. Whether in the facts and circumstances of the case, the order of the Ld. CIT(A) clearly violates the intention of the department on processing of the return of income electronically by CPC. 4. A....
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....hat the return has been filed after the due date of filing of return. For such an action, the appellant has stated that the adjustment has been prescribed from only A.Y. 2017-18 and therefore could not have been done for the present year, this contention of the appellant is rejected accordingly as the adjustment are not prescribed as per law and therefore to presume that an adjustment could have been done only in A.Y. 2017-18 is incorrect presumption and is rejected accordingly. The appellant noted that as the revised return has been processed and the original return was on time, therefore the appellant was eligible for deduction u/s. 80IA in view of various judicial rulings with regard to 80AC, which places the clauses fo....
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....hes a return of his income for such assessment year on or before the due date specified under sub-section (1) of section 139." A reading of the both sections 80A(5) and 80AC, it emerges that to make a claim u/s. 80IA, the assessee is simply required to file the return of income u/s. 139(1) and the claim can be made in the revised return of income also i.e. there is no bar for making the claim even in the return of income filed u/s. 139(5) of the IT Act. The identical issue came up before the Hon'ble ITAT Kolkata in the case of DCIT Vs. Mackintosh Burn Ltd., Kolkata, The said assessee filed its return of income on 29.11.2006, u/s. 139(1) of the IT Act declaring taxable income at Rs. 15.27 Crores, subsequently, the asses....
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....ion shall be allowed to an assessee who does not furnish a return of his income on or before the due date specified under sec. 139(1) of Act and accordingly, it was held that the above proviso is mandatory and not directory. The Hon'ble Special Bench distinguished catena of cases relied on by the assessee and held that those decisions were in different context, viz., filing of audit report, form No. 10 CCB etc. and hence, were not applicable to the assessee. While distinguishing the cases, the Hon'ble Special Bench observed that in the instant case the issue was filing of return itself and not filing of documents along with the return. In the instant case before us, the assessee had filed the original return of income on 29....
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....e assessee is squarely entitled for deduction u/s. 80IA of the Act as all the conditions therein were duly fulfilled by the assessee. The Ld. DR did not refute any of the findings of the Ld. CIT(A) by producing any cogent material or contrary evidence and the submissions made by the Ld. AR before us. In view of our aforesaid acts and findings and respectfully following the Judicial precedents relied upon hereinabove, We do not find any infirmity in the order of the Ld. CIT(A) and the same is hereby upheld. Appeal of revenue is dismissed. In the result, appeal of revenue is dismissed. In the above case, the assessee was allowed deduction u/s. 80IA merely on the fact that the return was filed within the due date and in spite of the f....