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2024 (6) TMI 812 - AT - Income TaxIssues Involved: 1. Disallowance of deduction claimed u/s 80-IA of the Income Tax Act, 1961. 2. Disallowance of employee's contribution to provident fund and ESIC paid beyond the prescribed due date. Summary: Issue 1: Disallowance of Deduction Claimed u/s 80-IA The assessee challenged the disallowance of Rs. 75,94,111/- claimed u/s 80-IA of the Income Tax Act, 1961, due to the failure to file Form no.10CCB within the due date. The original return filed on 28/11/2019 did not include the audit report in Form no.10CCB, leading to the disallowance by the CPC in the intimation dated 05/06/2020. The assessee subsequently filed the audit report on 11/06/2020 and a revised return on 22/07/2020, which was again disallowed by the CPC on 15/09/2020 for the same reason. The CIT(A) upheld the disallowance, stating that the audit report was not filed with the original return. The Tribunal examined whether the audit report in Form no.10CCB must be furnished only with the original return or if it can be submitted with a revised return. The Tribunal noted that section 80-IA(7) does not specify that the audit report must be filed with the original return. The Tribunal referred to the decision in Aquasub Engineering v/s DCIT, which allowed the deduction when the audit report was filed with a revised return. The Tribunal concluded that the revised return filed on 22/07/2020, which included the audit report, was valid and within the due date. Therefore, the Tribunal set aside the CIT(A)'s order and allowed the deduction claimed u/s 80-IA. Issue 2: Disallowance of Employee's Contribution to Provident Fund and ESIC The assessee also contested the disallowance of Rs. 85,466/- for employee's contribution to provident fund and ESIC paid beyond the prescribed due date but within the due date of filing the return. The learned AR conceded that this issue is covered in favor of the Revenue by the Supreme Court's decision in Checkmate Services Pvt. Ltd. Vs. CIT. Respectfully following this decision, the Tribunal dismissed ground no.2 of the assessee's appeal. Conclusion: The appeal was partly allowed, with the Tribunal setting aside the disallowance of the deduction claimed u/s 80-IA and dismissing the ground related to the disallowance of employee's contribution to provident fund and ESIC.
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