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TMI Blog2006 (8) TMI 159X X X X Extracts X X X X X X X X Extracts X X X X ..... ach of the CIT (A) and the Tribunal was proper. Thus, the Tribunal was justified in law in holding that the claim of the assessee u/s 80-I is justified even if he had not filed the audit report in Form No. 10CCB along with the return. We, therefore, answer the question against the Revenue and in favour of the assessee. - HON'BLE S. K. KULSHRESTHA., N. K. MODY, JJ For the Commissioner : R. L. Jain with Ms. Veena Mandlik ORDER S. K. KULSHRESTHA J. 1. The Tribunal, Indore Bench, Indore, has referred a question of law, under Section 256(1), which reads as under: Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that the claim of the assessee under section 80-I is justified even if he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t be admissible unless the accounts of the industrial undertaking for the previous year relevant to the assessment year for which the deduction is claimed have been audited by an accountant, as defined in the Explanation below sub-section (2) of section 288, and the assessee furnishes, along with his return of income, the report of such audit in the prescribed form duly signed and verified by such accountant. 4. The grievance of learned senior counsel for the Revenue is that since along with the return, the report was not submitted in the prescribed Form No. 10CCB, the assessee was not eligible for the benefit of section 80-I. 5. The Tribunal in meeting this question, brushed aside the objection and following the judgment of the Gujarat Hig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n of Form No. 10CCB is mandatory or directory. As observed by the Bombay High Court, the requirement of filing the report is mandatory and failure to file it is fatal. But that is not so in so far as the requirement of filing it along with the return is concerned. If, in a given case, the assessee fails to file such report along with the return and files it subsequently, but before completion of the assessment, it will not be fatal to the claim of the assessee and the Income-tax Officer will have the power to accept the same if he is satisfied that the delay in filing the same was for good and sufficient reasons. It is not disputed that the return was filed in time. The question that has been raised is as to what would be the effect if Form ..... X X X X Extracts X X X X X X X X Extracts X X X X
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