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TMI Blog2022 (8) TMI 119X X X X Extracts X X X X X X X X Extracts X X X X ..... ort in form No.10CCB if made available to the AO before framing assessment or processing of return u/s 143(1) of the Act, the assessee is entitled for deduction u/s 80IA of the Act. However, the Ld. A.R. not able to demonstrate that assessee has actually and digitally filed the form No.10CCB (audit report) along with the revised return of income filed by the assessee digitally so as to make available to the AO. In view of this, we remit this issue to the file of the AO with the direction to the assessee to prove that assessee has actually filed the audit report in form No.10CCB before the AO before passing of the intimation u/s 143(1)(a) of the Act. Accordingly, the issue remitted to the file of the AO for de-novo consideration. Appeal o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eport of an accountant in Form 10CCB. Legal Issue 3 - relating to Finance Act 2020, applicability. 4. Amended provision of section 80IA(7) is applicable only with effect from 01/04/2020. Even the amended provision emphasis only on furnishing of Return of income as a mandatory condition (and filing of Form 10CCB only as discretionary condition as held by supreme court). Legal Issue 4- relating to applicability of Department circular. 5. Rectification of return under section 139(4), has to be interpreted in accordance with the intention made out vide Department /Board's Circular No. 669 dated 25-10-1993 read with Smt. Mandira D. Vakharia 2001] 250 ITR 432 (Karnataka High court). I.e., on parity of reasoning Dep ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to management of industrial, chemical. hospital and other kinds of hazardous waste. The assessee is assessed with the Deputy Commissioner of Income-Tax, Centralized Processing Center (CPC), Bangalore. For the Assessment Year 2017-2018 the assessee filed its original return of income on 02/11/2017 declaring a total income of Rs.2,02,26,563/-. However, the corresponding form for claiming deduction u/s 80IA of the Act was not filed before filing the return and hence revised return was filed on 03/09/2018 after filing the required form i.e Form 10CCB on 01/09/2018. The case of the assessee company for the Assessment Year 2017-18 was processed u/s 143(1) of the Act on 12.11.2018. The learned assessing officer made disallowances to a tune of R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s 80IA of the Act. Section 80AC of the Act is clear in this regard which provides that no such deduction shall be allowed to the assessee unless he furnishes a return of his income for such assessment year on or before the due date specified u/s 139(1) of the Act. 4.1. Ld. CIT(A) further observed that a harmonious reading of section 80A and section 80AC of the Act shows that the assessee having failed to claim deduction u/s 80IA of the Act in his return of income filed within the due date specified u/s 139(1) of the Act, has clearly lost his eligibility to claim the benefit of deduction u/s 80IA of the Act. This cannot be done through a revised return. Ld. CIT(A) held accordingly. Against this assessee is in appeal before us. 5. We h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... raised its sec. 8o IA deduction claim with original return filed u/s 139(1) followed by its revised return along with form 10 CCB which was processed u/s 143(1) of the Act disallowing the above relief. This clinching fact has gone unrebutted from department side. Coupled with this, we also wish to reiterate here that sec.8o IA r.w.s. 8o IA (7) expressly provides for the impugned relief. We therefore quote hon'ble apex court's landmark decision in KV Pillai vs. CIT (1967) 63 ITR 411 (SC) to express our complete agreement ITA No 888/Hyd/19 AY 2016-17 Dy CIT, Circle 17(1) vs. Delhi MSW Solutions Ltd. Hyd. 5.1 The Ld. D.R. submitted that various case laws relied by the Ld. A.R. relating to the period prior to the introduction of se ..... X X X X Extracts X X X X X X X X Extracts X X X X
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