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TMI Blog2020 (5) TMI 718X X X X Extracts X X X X X X X X Extracts X X X X ..... urn late - HELD THAT:- It is sufficiently clear from the assessee s averments that the learned lower authorities have declined to entertain its Section 80IB(10) deduction claim for the reason that the same had not been raised in its return filed within the due date prescribed under Section 139(1) of the Act. And that the learned lower authorities quote Sections 80A(5) r.w.s. 80AC of the Act. Case ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dictional high court. He therefore sought adjournment to await its final outcome. We find no merit in assessee s instant adjournment request as its return is found to have been filed well beyond the due date prescribed in Section 139(1) of the Act. The assessee s foregoing pleas fail accordingly. Assessee appeal dismissed. - Shri S.S. Godara, Judicial Member And Dr. Dipak P. Ripote, Accountant M ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under principal to principal basis and most importantly allowing the said claim in the hands of M/s . Sanghvi Premises (P) Ltd. 2.On the facts and in the circumstances of the case and as assumed by the CIT(A) that this arrangement of joint venture is in the nature of AOP nonetheless the 80IB(10) claim should not have been denied. 3.On the facts and in the circumstances of the case the ld. CIT(A) h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o accept the sufficient and reasonable cause occurred in filing the return late and further not appreciating the settled legal position that requirement of filing the return before the due date U/S 80AC is directory and not mandatory. 3. It is sufficiently clear from the assessee s averments that the learned lower authorities have declined to entertain its Section 80IB(10) deduction claim for the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the above statutory return. He clarified that the Board had rejected the same on 11.10.2019. And that the assessee s Writ Petition No. 1394 of 2021 challenging the same is pending for final adjudication before the hon'ble jurisdictional high court. He therefore sought adjournment to await its final outcome. We find no merit in assessee s instant adjournment request as its return is found to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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