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TMI Blog2024 (8) TMI 1506X X X X Extracts X X X X X X X X Extracts X X X X ..... ction for the earlier 5 years. Therefore, we set-aside the impugned order of Ld.CIT(A)/JCIT(A) and direct the AO to allow the claim of deduction u/s. 80IA. Assessee appeal allowed. - Mahavir Singh, Hon ble Vice President And Shri S.R. Raghunatha, Hon ble Accountant Member For the Appellant : Shri. G. Tarun, Advocate. For the Respondent : Shri. T.M. Suganthamala, Addl. CIT. ORDER PER S. R. RAGHUNATHA, ACCOUNTANT MEMBER: This appeal filed by the assessee is directed against the order passed by the learned Commissioner of Income Tax (Appeals), Addl/JCIT(A)-1, Lucknow, dated 20.03.2024 and pertains to assessment year 2018-19. 2. The main grievance of the assessee is against action of the First Appellate Authority in denying claim of the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , this Tribunal after considering the decision in M/s. Wipro Ltd. (supra), held that filing of Audit Report/Form No. 10CCB is directory and not mandatory; and the Ld.AR also brought to our notice the decision of the Hon ble Madras High Court in the case of CIT v. AKS Alloys (P) Ltd., reported in [2012] 18 taxmann.com 25 (Mad) wherein the Hon ble High Court had an occasion to deal with identical issues and the question of law raised by the Revenue was as under: 1. Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in holding that the assessee was entitled to claim deduction u/s. 80IB in respect of the unit at Pondicherrys even though the assessee had not complied with the mandatory provisio ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ove substantial questions of law. 5. In so far as it relates to the substantial question of law (1) is concerned, namely, whether the filing of audit report in Form 10CCB is mandatory, it is well settled by a number of judicial precedents that before the assessment is completed, the declaration could be filed. In fact, the said issue came to be decided by the Karnataka High Court in the case in THE COMMISSIONER OF INCOME TAX AND ANOTHER vs. ACE MULTITAXES SYSTEMS (P) LTD. (2009) 317 ITR 207(Karnataka), wherein it was held that when a relief is sought for under Section 80IB of the Act, there is no obligation on the part of the assessee to file return accompanied by the audit report, thereby, holding that the same is not mandatory. Therefore, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ts which are against the Revenue, the substantial question of law (1) would not arise at all for consideration. 6. According to the Ld.AR, the Hon ble Supreme Court had affirmed the aforesaid action of Madras High Court which was challenged by the Revenue before the Hon ble Apex Court in Civil Appeal No. 4048 of 2014 and the Hon ble Apex Court was pleased to dismissed it by order dated 24th July, 2015 and pointed out that the order of the Hon ble Madras High Court in AKS Alloys (supra) has now merged with the order of the Hon ble Supreme Court, therefore, is binding; therefore, he pleaded that deduction be allowed. The ld.AR also relied on ITAT, Chennai Benches decisions in the case of Shri Annaswamy Sekhar vs. DCIT in ITA No. 1000/Chny/202 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court, affirmed the action of the Hon ble High Court of Bombay as well as tagged along matter wherein Revenue challenged the action of the Hon ble Madras High Court in AKS Alloys Pvt. Ltd (supra) and the Civil Appeal of department was dismissed, which means the decision of the Hon ble Madras High Court has been affirmed by Hon ble Supreme Court, and is binding precedent that if assessee had filed the Form 10CCB before the assessment proceedings culminate, then the deduction claimed u/s. 80IB ought not to be denied on the reason that assessee did not file Form 10CCB along with Return of Income (RoI). We also note the Hon ble Supreme Court s decision in M/s. Wipro Ltd. (supra) was in the context of that assessee s [Wipro] claim of exemption ..... X X X X Extracts X X X X X X X X Extracts X X X X
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