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TMI Blog2024 (12) TMI 424X X X X Extracts X X X X X X X X Extracts X X X X ..... Member For the Assessee : Shri Anil Jain, Advocate For the Revenue : Ms. Rishpal Bedi, CIT DR ORDER PER S.RIFAUR RAHMAN,AM: 1. This appeal is filed by the assessee against the order of ld. Commissioner of Income-tax Appeals-3, Chennai (hereinafter referred to Ld. CIT (A) ) dated 13.12.2023 for Assessment Year 2018-19. 2. Brief facts of the case are, the assessee has filed its original return of income on 23.10.2018 for Assessment Year 2018-19 and filed Form 10CCB to claim the deduction under section 80IC of the Income-tax Act, 1961 (for short the Act ) only on 05.11.2018. Subsequently, the assessee revised its return of income and the assessment under section 143(1) of the Act was completed on the basis of revised return of income without ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f income. He submitted that the CPC has completed 143 (1) assessment after considering the revised return of income. He submitted that assessee has submitted Form 10CCB before completion of 143 (1) proceedings. In this regard, he relied on the decision of ACIT vs. Green Dot Health Foods Pvt. Ltd. in ITA No.8414/Del/ 2019 dated 06.02.2023 and submitted that the ITAT, Delhi has relied on the decision of Hon ble Delhi High Court in the case of CIT vs. Contimeters Electrical (P) Ltd. (2009) 178 taxman 422 (Delhi). He further relied on the decision of ITAT, Mumbai in the case of Atlantics Bio Medicals Pvt. Ltd. in ITA No.117/Mum/2022 for AY 2017-18 dated 25.08.2022. 6. On the other hand, ld. DR for the Revenue objected to the submissions of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... return of income and filed the audit report on 06.11.2017 and assessee has not approved the same till 12.12.2017. Even though the Accountant has uploaded the same on 06.11.2017. With the above facts on record, the coordinate Bench has rejected the claim of the assessee. However, we also find that in the case of Green Dot Health Foods Pvt. Ltd. (supra), the coordinate Bench has considered the exact similar case which is on record and allowed the claim by observing as under :- 7. We have heard the rival submissions and perused the material available on record. The issue in the present ground is about the denial of claim of deduction u/s 80IC of the Act by AO but allowing the claim of the assessee by CIT(A). The only reason for denying the cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the present case are exactly similar, therefore, we are inclined to allow the claim of the assessee. Further we observed that ld. DR for the Revenue relied on the decision of Wipro Ltd. (supra) in which Hon ble Supreme Court has rejected the claim of the assessee for filing the audit report belatedly against the provisions of the Act u/s 10B of the Act which relates to exemption. While allowing the exemption which allows the assessee to claim the tax benefit as exempt from tax from the total income and also the relevant procedure was already laid down in the Act itself whereas in the given case, the issue relating to deduction not exemption. Therefore, we are inclined to allow the claim of the assessee by relying on the findings of coordin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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