Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (2) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (2) TMI 1921 - HC - Income TaxDisallowance u/s 80IB - reassessment proceedings when the assessee could not furnish audit report in prescribed form 10CCB during the course of Original Assessment proceedings - HELD THAT:- This Court has repeatedly taken a view that filing of audited accounts in the prescribed format is a procedural requirement and as long as during the assessment the same has been complied with, the deduction cannot be disallowed. Several other High Courts have taken a similar view. This Court had referring to the judgments in case of Commissioner of Income-tax v. Gujarat Oil and Allied Industries [1992 (9) TMI 67 - GUJARAT HIGH COURT] and in case of Panasonic Energy India Co. Ltd. v. Assistant Commissioner of Income-tax [2014 (2) TMI 129 - GUJARAT HIGH COURT] expressed such a view. Revenue would however rely on some of the observations made in the said judgments in case of Panasonic Energy (supra). It was the case in which without any justification the assessee had tried to submit the documents before the High Court in a Tax Appeal which was not permitted. The facts are therefore distinguishable. Tax Appeal dismissed.
|