2018 (6) TMI 1831

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....efore the AO at the time of assessment proceedings with a certificate that the above said Forms had been signed by the Chartered Accountant on 27.06.2014 whereas it is mandated by Income Tax Act rules to file relevant tax audit report and Form 10CCB electronically?" 2. The assessee is engaged in the business of manufacturing of batteries and deactivator. The assessee filed its return of income on 26.08.2014 declaring total income of Rs. 1,82,230/- after claiming deduction U/s 80IE of Rs. 73,21,215/-. The AO disallowed the claim of deduction U/s 80IE of the Act on the ground that the assessee did not file audit report in Form No. 10CCB electronically along with the return of income. On appeal, the ld. CIT(A) has allowed the claim of the ass....

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....e Supreme Court has upheld the order of the Hon'ble High court allowing the claim of deduction U/s 80IB of the IT Act and observed that even though necessary certificate in Form 10CCB alongwith return of income had not been filed but same was filed before final order of assessment was made. Thus it was held that the assessee was entitled to claim deduction U/s 80IB of the Act. The ld. AR has also relied upon the decision of the Hon'ble Allahabad High Court in case of CIT vs. Fortuna Foundation Engineers & Consultants (P.) Ltd. 81 taxmann.com 189 and submitted that the Hon'ble High Court has held that the filing of audit report in Form No. 10CCB alongwith return of income is not mandatory and only directory and assessee cannot be denied the ....

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....CE Multitaxes Systems (P.) LTD. [2009] 317 ITR 207(Kar.), wherein it was held that when a relief is sought for under Section 80IB of the Act, there is no obligation on the part of the assessee to file return accompanied by the audit report, thereby, holding that the same is not mandatory. Therefore, it is clear that before the assessment is completed if such report is filed, no fault could be found against the assessee. That was also the view of the Delhi High Court in the case in CIT v. Contimeters Electricals (P.) Ltd. [2009] 317 ITR 249/ 178 Taxman 422(Delhi), wherein the Delhi High Court, by following the judgements of the Madras High Court in CIT v. A.N. Arunachalam [1994] 208 ITR 481/ 75 Taxman 529and in CIT v. Jayant Patel [2001] 248....