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2020 (6) TMI 78 - MADRAS HIGH COURTBenefit of deduction u/s 80IAB - Belated filing of returns - reasons given by the petitioner for filing the returns belatedly under Section 139 was apparently, on account of paucity of funds and account of the amendment to Section 115JB - HELD THAT:- In this case, the unnamed Chartered Accountant had purportedly advised the petitioner to delay in filing returns. He could also have not signed the report of audit in the prescribed form. It is perhaps the report of the Chartered Accountant who finalized the account for the petitioner later was made available for the assessment and the return was filed belatedly. Explanation offered by the petitioner that in view of amendment to Section 115JB created confusion and that there was paucity of fund for payment of tax under the aforesaid provision which resulted in delay in filing of the returns is of no significance as by not filing the returns in time, the petitioner has not gained any advantage. Petitioner had put to jeopardy to its claim for the benefit of deduction under Section 80IAB of the Income Tax Act, 1961. Though the delay has not been properly explained, issue as to whether the petitioner was otherwise entitled to benefit of the deduction, but for failure to file such return would require examination independently.There is a genuine hardship as the petitioner failed to file return on time to avail the benefit of the deduction. By condoning the delay, the 2nd respondent would be merely allowing the Assessing Officer to examine the petitioner’s claim for the benefit of deduction under Section 80IAB of the Act, on merits and nothing more. By permitting the Assessing Officer to scrutinize the Income Tax Return filed belatedly by the petition, the 2nd respondent is not really asking the Assessing Officer to straight away allow the benefit of deduction under 80IAB of the Act. Set aside the impugned order and direct the 1st respondent Deputy Commissioner of Income Tax to examine the claim of the petitioner on merits as to whether the petitioner was otherwise entitled to the benefit of deduction under Section 80IAB.
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