Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2022 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (11) TMI 875 - AT - Income TaxDeduction u/s. 80IC - belated return filled - Deduction not to be allowed unless return furnished - audit report in form 10CCB for claim of deduction u/s. 80IC has been filed on 21-09-2015 i.e. within the prescribed time limit for filing return u/s. 139(1) - HELD THAT:- As in the instant case the assessee has failed bring forth any such communication or any order condoning such delay in filing return of income before the due date specified u/s. 139(1) of the Act. We, therefore, under the given facts and circumstances of the case are of the considered view are that since the assessee has filed belated return, the claim of deduction under section 80IC of the Act cannot be entertained/allowed as the assessee is directly hit by provisions of section 80AC - We, thus, fail to find any infirmity in the finding of the CIT ( A ) denying assessee’s claim of deduction u/s. 80IC - However, if deemed fit, the assessee can still approach the Board for consideration of its case and if the Board finds merit in the reason for genuine hardship of the assessee for filing the return belatedly the case of the assessee may be considered sympathetically. If such permission is granted by the Board, then the AO can allow claim of deduction of the assessee u/s.80IC of the Act in accordance with law - Appeal of assessee is dismissed .
|