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2019 (9) TMI 633 - AT - Income TaxClaim of weighted deduction @ 200% made us/ 35(2AB) - need for production of Form NO.3CL for allowing deduction u/s 35(2AB) - scope of amendment - HELD THAT:- Whether furnishing of Form No.3CL is mandatory for allowing deduction u/s 35(2AB) of the Act came to be considered by the coordinate bench in the case of M/s Mahindra Electric Mobility Ltd., Vs. ACIT [2019 (1) TMI 20 - ITAT BANGALORE] held that prior to 1/7/2016, Form No.3CL had no legal sanctity. It was further held that, only w.e.f 1/7/2016, in view of the amendment made to Rule 6(7A((b) of the Income-tax Act Rules, the quantification of weighted deduction allowable u/s 35(2AB) of the Act has to be based on From No.3CL and hence the said form has obtained significance. The year under consideration being asst. year 2014-15, the same would fall prior to 1/4/2016 and hence the tax authorities are not justified for insisting on production of Form NO.3CL for allowing deduction u/s 35(2AB) of the Act. Accordingly, we set aside the order passed by the ld CIT(A) and direct the AO to allow the deduction @ 200% of the expenditure incurred by the assessee, after examining the claim from the books of accounts - Decided in favour of assessee
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