TaxTMI 
TaxTMI 
2023 (5) TMI 1140
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....g critical phase of pandemic COVID-19. 2) In the facts and circumstances of the case the ld. Commissioner of Income-tax (Appeals), The impugned order is bad in law and on facts. 3) The appellant reserves the right to addition, alter or omit all or any of the grounds of appeal in the interest of justice." 2. Succinctly stated, the assessee who is engaged in the business of storage of food grains in warehouse, had filed her return of income for A.Y.2021-22 on 23.02.2022, declaring an income of Rs. Nil [after claiming deduction u/s.80IB(11A) of Rs.16,86,653/-]. 3. Controversy involved in the present appeal lies in a narrow compass, i.e. sustainability of the view taken by the lower authorities who had declined the assessee's claim for deduction u/s.80IB (11A) of the Act of Rs.16,86,650/-, for the reason that the audit report in the prescribed Form 10CCB was filed beyond the stipulated time period. 4. As the assessee appellant despite having been intimated about the hearing of appeal had neither put up an appearance nor filed any application for seeking adjournment, therefore, I am constrained to proceed with and dispose off the appeal as per Rule 24 of the A....
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....orm no 10CCB on 23.02.2022. Hence, while the Return of Income has been filed within the extended due date, the form 10CCB was filed a few days after the due date. It is apparent that in such cases where deduction under Chapter VIA has been denied owing to late filing of Form no.10CCB, the only remedy under the Income-tax Act, 1961 lies in seeking condonation of delay u/s.119(2)(b) of the Act. Accordingly, the grounds of appeal no 1,2,3 and 4 are dismissed." 8. Admittedly, the assessee's claim for deduction u/s.80IB(11A) of the Act r.w. 80IB(13) r.w. 80IA(7), therein presupposes that the accounts of the undertaking for the previous year relevant to the assessment year for which deduction is claimed, have been audited by an accountant as defined in the "Explanation" to sub-section (2) of Section 288 of the Act, before the specified date referred to in Section 44AB and the assessee furnishes by that date the report of such audit in the prescribed form duly signed and verified by such accountant. For the sake of clarity, Section 80IA(7) is culled out as under: "(7) The deduction under sub-section (1) from profits and gains derived from an undertaking shall not be admissible....
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....ntention of the legislature. Apart from that, it was observed that the fact that applying of the rule of plain meaning had resulted into any hardship or inconvenience cannot be allowed to form a basis to alter the meaning to the language employed by the legislature. It was further observed by the Hon'ble Apex Court that any vagueness in the exemption clauses must go to the benefit of the revenue, as the same being the creation of the statute itself has to be construed strictly. Elaborating on its aforesaid view, the Hon'ble Apex Court had observed, that as exemptions have tendency to increase the burden on the other unexempted class of tax payers, therefore, a person claiming exemption has to establish that his case squarely falls within the exemption notification, and in case of any ambiguity such notification has to be construed against the assessee. Also, it was therein observed that the need to resort to any interpretative process arises only where the meaning is not manifest on the plain words of the statute. If the words are plain and clear and directly convey the meaning, there is no need for any interpretation. The Hon'ble Apex Court was of the view that if an exemption is ....
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....No. 17/2021 dated 09.09.2021 respectively, is hereby further extended to 15th February, 2022; 2. The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-21, which was 31st October, 2021, in the case of assessees referred in clause (aa) of Explanation 2 to sub-section (1) of section 139 of the Act, is hereby extended to 15th February, 2022; 3. The due date of furnishing of Report from an Accountant by persons entering into international transaction or specified domestic transaction under section 92E of the Act for the Previous Year 2020-21, which was 31st October 2021, as extended to 30th November 2021 and 31st January 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is hereby further extended to 15th February, 2022; 4. The due date of furnishing of Return of Income for the Assessment Year 2021-22, which was 31st October 2021 under sub-section (1) of section 139 of the Act, as extended to 30th November 2021 and 15th February 2022 by Circular No.9/2021 dated 20.05.2021 and Circular No.17/2021 dated 09.09.2021 respectively, is hereby further....