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2013 (10) TMI 1 - HC - Income TaxDeduction u/s 80IB - Delayed filing of return u/s 139(4) - Power to condone the delay in filing return and allow the deduction u/s 80IB- vires of Section 80-AC - According to the petitioner the Assessing Officer rejected the claim for deduction on the premise of the strict application of Section 80-AC. - Held that:- Under clauses (b) and (c) of Section 119 of the Act, it is the Central Board of Direct Taxes (CBDT) which has the jurisdiction to extend the benefit of condonation of delay since the claims for deduction under Sections 80-IB(10), 80-IA arising out of Section 80AC fall under chapter IV-A of the Act. Petitioners to file necessary applications enclosing all material information and records to the CBDT for a decision over condonation of the delay in filing the returns and if the CBDT has issued any circular/instructions delegating such powers to its officers, then the CBDT, it is needless to state, to forward the papers to the concerned delegate of the power to consider the applications and pass orders in accordance with law. If petitioners file the representation within one month from today, there is no reason to believe that the CBDT or its delegates would not pass orders within an outer limit of five months from the date of filing applications.
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