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2023 (2) TMI 314
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.... P. Murkunde ORDER PER R.S. SYAL, VP : This appeal by the assessee is directed against the order dated 16-03-2021 passed by the CIT(A) in National Faceless Appeal Centre, Delhi in relation to the assessment year 2019-20. 2. The only issue raised in this appeal is against disallowance of deduction u/s.80IA(7) amounting to Rs.9,21,740/- and further not permitting carry forward of current....
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....planation 2(a) to section 139(1). Since the assessee is an HUF, not covered by Explanation 2(a) to section 139(1) as opined by the ld. CIT(A), the carry forward of loss and deduction u/s.80IA(7) was held to be rightly denied. 4. We have heard the ld. DR and gone through the written submissions furnished on behalf of the assessee. Primarily, it is noted from the impugned order that the assessee ....
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....d's Order by opining that an HUF cannot be considered as a `person'. In our considered opinion, this interpretation is not in accordance with law. Clause (a)(ii) of the Explanation 2 to section 139(1) covers any person whose accounts are required to be audited. Such a `person' may be Individual, HUF or a Body Corporate etc. Since the assessee- HUF was required to get its accounts audited, the case....