9911796707
TMI Blog2015 (9) TMI 1685X X X X Extracts X X X X X X X X Extracts X X X X ..... during A.Y. 1997- 98. The manufacturing of micronutrient fertilizers even has not been disputed by the Assessing Officer. It is not the case that the unit in dispute is part of earlier unit or its expansion. There is an uncontroverted finding in the impugned order that the assessee was maintaining separate accounts for both the units which are duly audited. Since the assessee has duly fulfilled the requirements of section 80IA(7) of the Act by filing the audit report before framing the assessment, we are of the view that the Assessing Officer wrongly disallowed the claim of the assessee. As per provisions of section 80IA(7), requiring filing of audit report alongwith the return is not mandatory rather it is directory and if the audit report ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cides and insecticides since 19743-74. Unit-II is a separate and independent unit from Unit-I, both are manufacturing different products and controlled by different laws. Thus, it cannot be said that Unit-II was an expansion of existing Unit-I. It is also noticed that the appellant was maintaining separate accounts for both the units which were duly audited. The appellant has furnished audit report in form No. 10CCB during reassessment proceedings and, therefore, fulfilled the condition laid down under section 80IA(7). It is a well settled law now that the requirement of filing the audit report in form no. 10CCB alongwith the return of income 3 is not mandatory but directory and if the said audit report is filed during assessment proceeding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) for the A.Ys. 2001-02 and 2002-03 wherein the claimed deduction u/s 80IA(2) of the Act was allowed to the assessee. However, vide assessment order dated 23.12.2010 the learned Assessing Officer disallowed the claimed deduction on the ground that the assessee did not furnish the audit report in Form No. 10CCB. The assessee approached the learned CIT(A) who after examining the facts 4 allowed the claim which is under challenge before this Tribunal. We find that there is uncontroverted finding in the impugned order (para 4.3) that the audit report was filed and the requirement of section 80IA(7) of the Act has been duly met with. Unit-II was separate and independent unit from the existing unit and the new unit commenced its production during ..... X X X X Extracts X X X X X X X X Extracts X X X X
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