2023 (10) TMI 1548

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....Respondent by: Smt.J.M.Jamuna Devi, Sr.DR ORDER Per Sanjay Arora, AM: This is an appeal by the Assessee directed against the Order dated 28.09.2022 by the Commissioner of Income Tax (Appeals), Income Tax Department (NFAC, Delhi), dismissing the assessee's appeal contesting the order under section 154 of the Income Tax Act, 1961 ('the Act' hereinafter), dated 12.03.2021rejecting it's recti....

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....rd. The issue arising is if the Revenue has, in denying deduction u/s. 80P on processing of the assessee's return for the year, furnished beyond the time specified therefor u/s. 139(1), i.e., in view of s. 80AC, mandating the said furnishing in time as a pre-requisite for a valid claim under, inter alia, s. 80-P, committed any mistake, as claimed by the assessee, or not. The terms of s. 80AC....

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.... previous year for which set off of loss is claimed was furnished beyond the due date specified under sub-section (1) of section 139; (iv) disallowance of expenditure indicated in the audit report but not taken into account in computing the total income in the return; (v) disallowance of deduction claimed under sections 10AA, 80-IA, 80-IAB, 80-IB, 80- IC, 80-ID or section 80-IE, ....

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....3(1)(a)(v) where the same is prior to 01.04.2021, i.e., the date on which the corresponding amendment, i.e., with reference to sec.80AC, stands made in sec.143(1)(a)(v). As explained therein, the adjustment is outside the scope of s. 143(1)(a)(ii), while that u/s. 143(1)(a)(v) could not be given effect to prior to 01/4/2021, as obtains in the instant case. This represents the consistent stand of T....