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TMI Blog2015 (12) TMI 612X X X X Extracts X X X X X X X X Extracts X X X X ..... eduction u/s 80IB ignoring the provisions of Sec.8OAC. 2.2 The ld. C.I.T (Appeals) failed to appreciate the fact that the assessee has failed to prove any genuine hardship preventing him from filing the return within the time provided u/s 139(1)." 3. The assessee is a company engaged in the business of fruit processing industry. It was entitled to claim deduction u/s. 80IB(11A) of the Act. As far as AY 2011-12 is concerned, the assessee filed a return of income on 16.10.2011 claiming deduction u/s. u/s. 80IB(11A). The due date for filing the return of income for AY 2011-12 was, admittedly, 30.9.2011. In view of the provisions of section 80AC of the Act, the return which was processed by the CPC denied the claim of assessee for deduction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the AO is directed to allow the same." 5. Aggrieved by the order of CIT(Appeals), the Revenue has preferred the present appeal before the Tribunal. 6. We have heard the rival submissions. As per the provisions of Sec.80AC of the Act, deduction u/s.80-IB(11A) of the Act cannot be allowed if the Assessee does not file the return of income on or before the due date specified in Sec.139(1) of the Act. The said provisions reads as follows: "80AC. Deduction not to be allowed unless return furnished-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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... manufacture or produce such articles or things or computer software, as the case may be, and thereafter, fifty per cent of such profits and gains for further two consecutive assessment years, and thereafter; (ii) for the next three consecutive assessment years, so much of the amount not exceeding fifty per cent of the profit as is debited to the profit and loss account of the previous year in respect of which the deduction is to be allowed and credited to a reserve account (to be called the "Special Economic Zone Reinvestment Allowance Reserve Account") to be created and utilised for the purposes of the business of the assessee in the manner laid down in sub-section (1B) : Provided that no deduction under this section shall be allowed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o an assessee who fails to furnish a return of income on or before the due date specified u/s 139(1). 9. The decisions rendered by the division bench of Tribunal on which the CIT(A) placed reliance are no longer good law in view of the later decision of the Special Bench referred to above. 10. The learned DR also brought to our notice the decision rendered by the ITAT Bangalore Bench in the case of Avasarala Technologies Ltd. Vs. DCIT ITA No.951 to 954/Bng/2011 order dated 8.3.2013, wherein in the context of deduction u/s.80-IB(10) of the Act, the decision of the Special Bench in the case of Saffire Garment (supra) was followed and it was held that the provisions of Sec.80AC of the Act were mandatory and not directory, thus deduction u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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