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2020 (5) TMI 616 - AT - Income TaxRevision u/s 263 - Deduction u/s 80IA - as per CIT-A since the Assessee in the present case had filed the return of income on 23-11-2011 which was beyond the time allowed u/s 139(1) for assessment year 2011-12, the AO ought not to have allowed deduction u/s 80IA - HELD THAT:- It is not disputed before us that in view of the decision in the case of M/s Saffire Garments vs ITO [2012 (12) TMI 193 - ITAT RAJKOT] wherein the provisions of section 80AC were held to be mandatory and that an assessee who does not file its return of income on or before the due date prescribed u/s 139(1) of the Act will not be entitled to claim deduction u/s 80IA of the Act. Therefore on merits of the claim for deduction u/s.80IA of the Act, the Assessee has no case. We are of the view that in the present case, the order of the AO is erroneous and prejudicial to the interest of revenue for the failure on the part of the AO to make proper enquiries on the claim of deduction as claimed by the Assessee u/s 80IA of the Act and therefore, as laid down in the case of M/s GEE VEE Enterprises Vs Addl.CIT & Others [1974 (10) TMI 29 - DELHI HIGH COURT] the jurisdiction u/s 263 of the Act was rightly invoked by the Pr.CIT. We therefore, find no merit in this appeal filed by the assessee and accordingly, we dismiss the same. - Decided against assessee.
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