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2014 (8) TMI 1165 - AT - Income TaxEligibility to claim of deduction u/s 80IB(10) - assessee has not filed return of income within the time limit u/s 139(1) and when section 80AC - mandation of filing of return under section 139(1) within the due date - Held that:- Issue raised in the present appeal is squarely covered against the assessee by the decision of the Special Bench of the Tribunal in the case of Saffire Garments Vs. ITO (2012 (12) TMI 193 - ITAT RAJKOT) wherein it has been held that the restriction provided by way of the proviso to section 10A(1A) is mandatory as the matter governs filing of the return of income within the due date provided under section 139(1). Therefore, we find that the said decision of the Special Bench applies not only to section 10A, but also to sections 10B and 80AC. Thus filing of return under section 139(1) within the due date prescribed under law is a mandatory provision. If the assessees wants to claim deduction under section 80IB(10), it is necessary that the assessees must file the returns of income before the due date prescribed under section 139(1) of the Income-tax Act, 1961. - Decided in favour of revenue.
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