2022 (11) TMI 1178

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....e assessment year 2014-15. The assessee has raised the following substantial questions of law for consideration: (i) Whether on the correct and proper interpretation of Sections 80IA(4)v, 80IA(7) and 80AC read with Rule 18BBB(2) and Rule 1292) of the Income Tax Rules, 1962, learned Tribunal was justified in holding that where audit report in Form 10CCB is required to be filed electronically on the Income Tax Portal, then two things are required to be proved, firstly, the assessee has obtained audit report before the due date prescribed under the Act and, secondly, it has been filed before the due date prescribed under the Act ? (ii) Whether the learned Tribunal completely misread the relevant provision of law prevailing....

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....who by order dated 28^th February, 2019 affirmed the view taken by the Assessing Officer on the self same ground. The assessee carried the matter on appeal before the learned Tribunal. The learned Tribunal took note of the legal position and rightly held that it is the consistent view of all the Courts that if the assessee has failed to attach the audit report or claim deduction along with the return of income, that being only a procedural lapse it should be cured even at the stage of the assessment proceedings where such audit report can be filed or deduction can be claimed. This issue has been decided in several decisions of the various High Courts and we note this issue has been decided in several decisions of various High Courts and we ....

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....ar under consideration namely A.Y. 2014-15. The amendment to the Act was brought about by the Finance Act 2020 (No. 12 of 2020) dated 27.3.2020. In Section 35 of the Finance Act the amendment brought out to Section 80IA of the Act in sub Section (7) has been mentioned. It has to be noted that Finance Act, 2020 came into force on 1.4.2020. If that be so, the learned Tribunal without examining as to whether such an amendment could apply to the assessee's case had directed to the assessing officer to verify such a matter. The learned Advocate appearing for the appellant submitted that such an issue was never raised by the revenue at any earlier point of time. As could be seen from the materials available on record the assessing officer has not....