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2015 (12) TMI 612 - ITAT BANGALOREDeduction u/s. 80IB(11A) - provisions of Sec.80AC ignored - whether no deduction under this section shall be allowed to an assessee who does not furnish a return of his income on or before the due date specified under sub-section (1) of section 139? - CIT(A) allowed the claim - Held that:- In the light of the decision of the Special Bench in the case of Saffire Garments (2012 (12) TMI 193 - ITAT RAJKOT) and Avasarala Technologies Ltd.(2013 (3) TMI 644 - ITAT BANGALORE), the plea raised on behalf of the Assessee cannot be accepted. Accordingly, we hold that provisions of Sec.80AC of the Act were mandatory and not directory, thus deduction u/s 80-IB(10) of the Act could not be allowed to an assessee who fails to furnish a return of income on or before the due date specified u/s 139(1) of the Act. We therefore reverse the order of CIT(A) and restore the order of the AO. - Decided against assessee.
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