9911796707
TMI Blog2025 (4) TMI 1452X X X X Extracts X X X X X X X X Extracts X X X X ..... Bengaluru on 14.02.2022 wherein the deduction u/s 80IB(10) of the Income Tax Act, 1961 (hereinafter referred to as 'the Act') was disallowed and the tax was calculated under Alternate Minimum Tax as per the provisions of section 115JC of the Act. 3. Aggrieved with such order of the CPC, Bengaluru, the assessee filed an appeal before the Ld. CIT(A) challenging the computation of tax by applying the Alternate Minimum Tax. The assessee also took an additional ground before the Ld. CIT(A) challenging the disallowance of deduction of Rs. 6,12,05,192/- u/s 80IB(10) of the Act. Based on the arguments advanced by the assessee, the Ld. CIT(A) allowed the claim of deduction u/s 80IB(10) of the Act made by the assessee by observing as under: "Find ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct was obtained by the appellant on 30.03.2007 and occupancy certificate was obtained on 31.03.2012. The appellant has claimed the deduction u/s 80IB(10) for the same project in AY 2012-13. 2013 14 and 2014-15 and the same was allowed during the assessment /appellate proceedings. During the year under consideration the deduction of 80IB(10) is claimed for the same project, therefore, on perusal of the documents available on record, I am of the opinion that the appellant is eligible for the deduction u/s 80IB(10) and due to the bonafide mistake by the staff of the Chartered Accountant the amount of the deduction was remained to be mentioned at the time of filing of the return and hence, the same was disallowed in the intimation. 10.5 Furth ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... has been duly complied by the appellant within the prescribed limit and the claim of the deduction is made in the return of income by filling the details of Form 10CCB and deduction to be claimed u/s 80IB(10), therefore, respectfully following the ratios laid down by the aforesaid judicial forums, the AO is directed to allow the claim of deduction u/s 80IB(10) of Rs. 6,12,05,192/-, Accordingly, the additional ground raised by the appellant is hereby allowed." 4. Aggrieved with such order of the Ld. CIT(A), the Revenue is in appeal before the Tribunal by raising the following grounds: 1. Whether on the facts and in the circumstances of the case and in law, the Ld. CIT (A) has erred in directing the AO to allow the deduction u/s. 80IB(10) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eturn to claim the said deduction, therefore, it was beyond the power of the Ld. CIT(A) to discuss and decide the issue. 6. The Ld. Counsel for the assessee on the other hand submitted that the assessee filed the return of income on 03.01.2021. Due date for filing of the return was 15.02.2021. Referring to page 51 of the paper book, he submitted that the audit report was furnished on 30.12.2020. Referring to page 63 of the paper book, he submitted that due to a typographical error, the claim of deduction u/s 80IB(10) of the Act was not mentioned in the I.T. Return. Referring to page 69 of the paper book, he submitted that the assessee in the Form No.10CCB has quantified the claim of deduction u/s 80IB(10) of the Act at Rs. 6,12,05,192/-. H ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ead note: "Section 80-IB of the Income-tax Act, 1961 Deductions Profits and gains from industrial undertakings other than infrastructure development undertakings - Assessment year 2003-04 - Assessee had claimed deduction under section 80-IB and though Form 10CCB and other requisite documents had been furnished along with return, Assessing Officer made assessment without referring to said documents On appeal, claim of assessee was upheld - On appeal before Tribunal, revenue contended that assessee made claim by way of an application without filing a revised return and, therefore, deduction could not be allowed. Tribunal, however, upheld order of Commissioner (Appeals) holding that as assessee was not making any fresh claim and it had duly ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Hon'ble Supreme Court in the case of Goetze India Ltd. vs. CIT (supra) since the assessee has neither claimed the deduction in the return of income filed originally nor claimed the same through revised return. 11. We find the provisions of section 80A(5) of the Act read as under: "80A(1).... ...... (5) Where the assessee fails to make a claim in his return of income for any deduction under section 10A or section 10AA or section 10B or section 10BA or under any provision of this Chapter under the heading "C.-Deductions in respect of certain incomes", no deduction shall be allowed to him thereunder." 12. A perusal of the Audit Report in Form No.10CCB shows the date of approval by the local authority as 30.03.2007 and the date of ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
