TaxTMI 
TaxTMI 
2021 (11) TMI 351
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....Bench, Bangalore ['Tribunal' for short] in ITA No.1784/Bang/2016 dated 15.03.2017 relating to the assessment year 2006-07. 2. The appeal has been admitted to consider the following substantial questions of law: "1. Whether the Tribunal was justified in law in denying the eligible claim of deduction available to the appellant under the provisions of Section 80IB[10] of the Act on the facts and circumstances of the case? 2. Whether the Tribunal erred in not appreciating that consent cannot confer jurisdiction and in accordance with the Board Circular, and several case laws the Tribunal ought to have granted relief by allowing the claim of eligible deduction under Section 80IB[10] of the Act, on the facts and circumstances of the c....
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....accepted the objections of the Assessing Officer during the assessment proceedings. Against which, appeal was preferred before the Tribunal. The Tribunal confirmed the order of the Authorities and denied the deduction under Section 80IB[10] of the Act, dismissing the appeal. 5. Being aggrieved, the assessee has preferred the present appeal. 6. Learned senior counsel Sri.A.Shankar representing the appellant-assessee would submit that the Tribunal has failed to appreciate the factum that the assessee has filed revised return of income which indeed refers to the deduction claimed under Section 80IB[10] of the Act i.e., under Chapter VI-A [Schedule 10] at Rs. 3,973,958/- in Part-B of the Computation of Income and Tax, the Authorities proceede....
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.... the learned counsel for the Revenue placing reliance on Section 80AC of the Act. 7. At this juncture, it would be profitable to refer to Section 80AC of the Act which reads thus: "Deduction not to be allowed unless return furnished. 80AC. Where in computing the total income of an assessee of any previous year relevant to the assessment year commencing on or after- (i) the 1st day of April, 2006 but before the 1st day of April, 2018, any deduction is admissible under section 80-IA or section 80- IAB or section 80-IB or section 80-IC or section 80-ID or section 80-IE; (ii) the 1st day of April, 2018, any deduction is admissible under any provision of this Chapter under the heading "C.- Deductions in respect of certain incomes", no s....
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....e deductions under Chapter VI-A [Schedule 10] were claimed by the assessee. 10. In such circumstances, the proceedings of the Authorities and the Tribunal warrants interference so as to ascertain the genuineness of this return said to have been filed by the assessee, in the light of Section 80AC of the Act. 11. Hence, without expressing any opinion on the substantial questions of law raised by the assessee, we deem it appropriate to restore the matter to the file of the Assessing Officer to re-examine the matter on the deduction claimed by the assessee under Section 80IB[10] with respect to return dated 24.12.2008 vis-à-vis Section 80AC of the Act and the settled legal principles holding the field on the subject matter of Section 8....