TMI Blog2019 (1) TMI 694X X X X Extracts X X X X X X X X Extracts X X X X ..... filed before final order of the assessment was made, the assessee was entitled to claim deduction under section 80IB (10) of the Act. - Decided against revenue - ITA No. 311/VIZ/2018 And C.O. No. 92/VIZ/2018 - - - Dated:- 11-1-2019 - SHRI V. DURGA RAO, JUDICIAL MEMBER AND SHRI D.S. SUNDER SINGH, ACCOUNTANT MEMBER For The Assessee : Shri G.V.N. Hari Advocate For The Department : Shri V. Appala Raju Sr. DR ORDER PER V. DURGA RAO, JUDICIAL MEMBER This appeal by the Revenue and the cross objection by the assessee are directed against the order of Commissioner of Income Tax (Appeals)-3, Visakhapatnam, dated 29/03/2018 for the Assessment Year 2014-15. 2. Facts of the case, in brief, are that the assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... decision of the Jaipur Bench of the ITAT in the case of Khetan Tiles Private Ltd. Vs. ACIT in ITA No. 353/JP/2017, by order dated 09/08/2017 and submitted that Form No. 10CCB can be filed during the course of assessment proceedings also. The ld. CIT(A) by considering the argument of the AR of the assessee and also by considering the decision of the ITAT, Jaipur Bench in the case of Khetan Tiles Private Ltd. (supra) directed the Assessing Officer to allow the claim of deduction under section 80IB (10) of the Act. 4. On being aggrieved, the revenue carried the matter in appeal before the Tribunal. 5. Ld. Departmental Representative relied on the order passed by the Assessing Officer, whereas ld. counsel for the assessee has strongly re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... uirement of Rule 12(2) providing for e-filing of Audit Report in Form No 1OCCB The Only issue to be decided is whether the requirement of Rule 12(2) is directory or mandatory in nature. On a careful perusal of the decision of Hon'ble Jaipur Bench of the ITAT in the case of Khetan Tiles Private Limited (Supra), I found that this issue has been duly considered by the ITAT. The relevant portion of the order is extracted hereunder: 6. We have heard the rival submissions and pursued the material available on record. It is not in dispute that the assessee was entitled to deduction under section 80IA of the Act. The provisions of section 80IA(8) under consideration reads as under: (8) Where the assessee is a person other than a company ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... se of assessment proceedings, substantial compliance has beer, made. In the result, ground no. 1 of the assessee's appeal is allowed. The aforesaid decision squarely applies to the case of the appellant. Respectfully following the decision of the Hon'ble Jaipur Tribunal (which is in turn based on the decision rendered by Hon'ble Supreme Court in the case of G.M. Knitting Industries Pvt. Ltd.), I hold that the Assessing Officer is not justified in disallowing the deduction claimed by the appellant u/s 80IB(10) of the Act. The Assessing Officer is directed to allow the deduction of ₹ 2,52,66,114/- claimed by the appellant u/s 801B(10) of the Act. 8. No material has been brought to our notice to show that the abo ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
