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2021 (1) TMI 791 - HC - Income TaxRevision u/s 263 - Disallowance of deduction u/s 80IA(7) - assessee had not filed Form No.10CCB as required u/s 80IA(7) along with the return of income which is mandatory and therefore, assessee is not entitled to deduction under Section 80IA - AO without examining the aforesaid aspect permitted the deduction and therefore, the order passed by the Assessing Officer is erroneous and is prejudicial to the interest of the revenue - HELD THAT:- The assessee had filed Form No.10CCB of the Act along with written submissions before the CIT (Appeals), which was acknowledged by him in the order dated 11.03.2008. A bench of this court in 'CIT V. ACE MULTIAXES SYSTEMS (P.) LTD.' [2009 (1) TMI 260 - KARNATAKA HIGH COURT] has taken a view that assessee is entitled to deduction under Section 80IA of the Act even if the audit report is filed at the appellate stage. Similar view has been taken by Madras High Court in A.N. Arunachalam [1994 (1) TMI 65 - MADRAS HIGH COURT]. Thus, the view taken by the assessing officer with regard to eligibility of the assessee to claim deduction under section 80IA of the Act was one of the possible views. We are fortified in our aforesaid conclusion in view of the order passed by the Commissioner of Income Tax under section 263. Thus the order passed by the Commissioner of Income Tax itself discloses that two views are possible. Therefore it is not necessary for us to deal with various contentions made by learned counsel for the parties. In the result the substantial questions of law are answered in favour of the assessee and against the revenue.
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