TaxTMI 
TaxTMI 
2026 (3) TMI 1340
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....ed following grounds of appeal: "1. That the intimation u/s 143(1) of the Act by CPC, Bangalore and confirmed by the CIT(A)-NFAC is not only bad in law but also against the facts of the case. 2. That the Ld. CIT(A) is erred under the law while disposing off appeal filed by the appellant with the observation that, jurisdiction for condonation of delay in filing form 10CCB lies with CIT(A) exemption u/s 119(2)(b) of the Act. 3. That the CIT(A)-NFAC is erred under the law and fact while not condoning the delay of only 18 days in filing the Form 10CCB as the assessee was prevented by reasonable cause in not filing the Form on or before time. 4. That all the grounds of appeal raise herein above are independent....
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....llant shall file the application of condonation before the concerned CIT(Exemption) for condonation of delay u/s 119(2) of the Act." Further aggrieved, the assessee has filed an appeal before the Tribunal. 4. Before us, Ld. AR has submitted that there was a delay of only 18 days in filing of the Form which was filed before the due date for filing of return but beyond the prescribed due date. He has further submitted that the requirement of filing Form 10CCB is only a procedural requirement and not mandatory. Ld. AR has placed reliance on several judicial pronouncements in support of the argument that the deduction which is overtime allowable cannot be disallowed merely for the reason that the prescribed form was filed beyond the due d....
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....d down under Section 80-1A and consequently the deduction under that section for the sum of Rs 14,27,351/- had been wrongly allowed. The CIT(A), therefore, cancelled the assessment which had been earlier framed and directed the Assessing Officer to complete the assessment as per law, in terms of the directions given in the said order. Being aggrieved by the said order, the assessee preferred an appeal before the Tribunal which was allowed by the Tribunal by virtue of the impugned order. The Tribunal took the view that the provisions of section 80-IA(7) with regard to filing of the audit report along with the return were not mandatory and were merely directory. In coming to such conclusion, the Tribunal referred to the decision of the Gujara....
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....usion that the requirement of filing the audit report along with the return is not mandatory but directory and that if the audit report is filed at any time before the framing of the assessment, the requirement of section 80-IA(7) would be met." 8. Respectfully following the above decision and other similar decisions, we are inclined to hold that the assessee is eligible to claim deduction u/s 80IC who had claimed the deductions u/s 80IC in filing return of income u/s 139(1) and 139(5) and duly submitted the audit report before completion of the assessment. Therefore, we are inclined to allow the grounds raised by the assessee." 5. We have heard the rival submissions and perused the material available on record. We note that the....