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TMI Blog2013 (2) TMI 320X X X X Extracts X X X X X X X X Extracts X X X X ..... o furnish the return even after expiry of the due date for furnishing return specified under sub-section (1) of Section 139 Held that:- In the matter of construction of a fiscal statute, one is required to read the words used by the Legislature rather than go into the question of reasonableness, rationality and beneficial ness of a part of the statute. In the event, within the plain words used ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Where in computing the total income of an assessee of the previous year relevant to the assessment year commencing on the 1st day of April, 2006 or any subsequent assessment year, any deduction is admissible under section 80-IA or section 80-IAB or section 80-IB or section 80-IC [or section 80-ID or section 80-IE], no such deduction shall be allowed to him unless he furnishes a return of his inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in the time allowed to him under sub-section (1), or within the time allowed under a notice issued under sub-section (1) of section 142, may furnish the return for any previous year at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier: Provided that where the return relates to a previous year rel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and 80IC, being beneficial statute, Section 80AC must be construed liberally and, having regard to what has been provided in Section 139(4), in the event compliance thereof, the assessee must be accorded the benefits of Sections 80IB and 80IC of the Act. In the matter of construction of a fiscal statute, one is required to read the words used by the Legislature rather than go into the question of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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