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TMI Blog2022 (12) TMI 1087X X X X Extracts X X X X X X X X Extracts X X X X ..... y CIT v. G.M. Knitting Industries (P.) Ltd. [ 2015 (11) TMI 397 - SC ORDER] as held that even though necessary certificate in Form 10CCB has to be filed along with the return of income, but, even if the same was filed before the final order of assessment was made, the assessee is entitled to claim deduction under section 80IB of the Act. Thus we are of the considered opinion that once the assessee has filed an audit report in Form 10CCB on 13.11.2017 and processing of return under section 143(1) was done by the CPC, Bengaluru on 16.03.2019, which is an event much after, the assessee is fully entitled to claim deduction under section 80IA of the Act. Accordingly, we set aside the orders of authorities below on this issue and direct the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urn filed by the assessee was processed under section 143(1) of the Act by the CPC, Bengaluru dated 16.03.2019 by making various disallowances. The CPC, Bengaluru disallowed the claim of deduction under section 80IA of the Act amounting to ₹.2,37,08,703/- for non-filing of Form 10CCB along with the return of income. On appeal, the ld. CIT(A) has confirmed the disallowance by observing as under: 10. What is important is that CPC made the disallowance while processing u/s 143(1), when it found that the Form 10CCB which is mandatorily required to be filed along with the R/I within the due date was not seen filed within the due date. There was an incorrect claim made by the assessee in the Revised R/I. Disallowance u/s 143(1) is diff ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... On being aggrieved, the assessee is in appeal before the Tribunal. The ld. Counsel for the assessee has submitted that though the assessee has not submitted Form 10CCB along with return of income, but it was submitted before concluding the assessment order and relied on the decision in the case of CIT v. G.M. Knitting Industries (P.) Ltd. 376 ITR 456 (SC) besides relying upon the decision of Hon ble Jurisdictional High Court in the case of CIT v. AKS Alloys (P.) Ltd. 18 taxmann.com 25 (Mad) and decision of the Coordinate Benches of the Tribunal in the case of Roopa Steam Calendering Works v. DCIT in ITA No. 284/Chny/2022 dated 18.08.2022. 5. On the other hand, the ld. DR supported the order passed by the ld. CIT(A). 6. We have heard b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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