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2022 (5) TMI 852 - AT - Income TaxDenial of claim u/s 80IA for want of sec.10CCB - not filing Form NO.10CCB within the due date - quantum of deductions - Assessee revised return everytime receiving Form No.10CCB - HELD THAT:- Since the assessee had filed its return of income before the due date, as specified u/s 139(1) of the Act for the relevant asst. year and in the return of income he has also claimed deduction. The tax Auditor has also certified the deduction claimed as per Sl.No.33 of the Form No.3CD therefore, only for want of not filing Form NO.10CCB within the due date the claim of deduction should not be disallowed, to which, the assessee had filed revised return within the due date. In view of this, the assessee is eligible to claim deduction u/s 80IA. Whenever the assessee received Form No.10CCB, he revised his return of income. On observation of the above trading profit and loss account, we notice that there is no any amount debited into the profit and loss account towards administrative expenditure whereas the administrative expenditures are necessary to keep and maintain for smooth running of the business. How and why the assessee has not debited any administrative expenses even no any salary expenditures have been shown in the profit and loss account. Therefore, it would be proper to send back the issue to the file of the AO for determining the actual profit computed in the above trading and profit and loss account without incurring of any expenditures. Needless to say that the reasonable opportunity of being heard to be given to the assessee and the assessee is directed not to seek unnecessary adjournments for early disposal of the case.Appeal of the assessee is allowed for statistical purposes.
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