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2019 (5) TMI 1122 - AT - Income TaxDeduction u/s 80IB denied - non filing of income tax return before due date u/s 139(1) - For claiming deduction u/s 80IB assessee e-filed report and Form 10CCB and Form 3 CB & 3CD for tax audit u/s 44AB online on 25.9.2013 and 23.9.2013 respectively - HELD THAT:- As per provisions of Section 80AC of the Act for claim u/s 80IB assessee is required to furnish the return of income before the due date specified u/s 139(1) of the Act. As in the case of Symbosis Pharmaceuticals P Ltd V/s DCIT [2017 (11) TMI 1361 - ITAT CHANDIGARH] wherein deduction u/s 80IC was claimed. Audit report was filed before the due date but income tax return was submitted on 31.3.2014 and deduction u/s 80IC was denied. The Coordinate Bench after considering jurisdictional pronouncements gave following observations holding that the claim of the assessee cannot be outset with, as the return was filed within the extended period stipulated in section 139(4) of the Act and the assessee deserves to succeed in part. In the present case as the return of income though belated but filed subsequently on 22.4.2014 u/s 139(4) of the Act whereas the audit reports have been e filed before the due date of filing of return u/s 139(1) of the Act. We direct A.O to accept the tax audit reports submitted by the assessee in support of claim for deduction u/s 80IB. However the matter is remanded to the A.O for the purpose of verification as during the course of assessment proceedings the facts of the alleged claim u/s 80IB of the Act could not be examined on merits by the assessing authority. We therefore direct the Ld. A.O to examine the claim of the assessee u/s 80IB and if the conditions of Section 80IB of the Act are fulfilled then the deduction should be allowed and delay in filing of return of income should not affect in claiming the deduction by the assessee u/s 80IB - Appeal of the assessee is allowed for statistical purposes.
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