TMI Blog2013 (4) TMI 738X X X X Extracts X X X X X X X X Extracts X X X X ..... reasonable cause for delayed submission of the assessee s Return for A.Y. 2009-10. 3. That the ld. CIT(A) erred in holding that Section 80AC of the I.T.Act was not a procedural and machinery provision and consequently the condition contained in the said section relating to the submission of Return within the due date specified in Sec.139(1) of the I.T.Act is not directory but mandatory. 4. That while rejecting the assessee s claim of deduction u/s 80-IB read with Section 80AC of the I.T.Act, the ld. CIT(A) overlooked the fact that the incentive provision for promoting growth and development is required to be interpreted liberally so as to subserve the purpose for which it is intended. 2. The brief facts as have been brought on re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ked with the restriction of granting incentive to the assessee. He considered that the granting of 80IB(10) of the Act is embedded in the section itself without inviting to consider the timely filing of the return u/s 139(1) of the Act, in so far as, distinguished the Hon ble Supreme Court s decision in the case of Bajaj Tempo Ltd. vs CIT reported in 196 ITR 188 that the provision as well as restriction in respect of the beneficial section should be incorporated liberally. He held that filing of return through electronic media was done away with when all the annexures which were to be filed as hard copy while the assessee appellant submitted that by way of the Chartered Accountant of the assessee who had certified and computed the deduction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /s 139(1) of the Act. For that proposition he had produced the documents relating to the signatory to the audit report which was verified by the Inspector of the AO, in so far as, the ld. Counsel submitted that having filing the claim of deduction appropriate it was only that the assesse had filed the return on 11th February, 2010 beyond the time permissible under the provision of section 139(1) of the Act the ld. A.O. held cannot be entitled for deduction u/s 80IB of the Act. 5. The ld. CIT(A) perused the order of the AO in which it had accepted the income as per the returned income but denial of the claim of deduction u/s 80IB of the Act at ₹ 94,67,987/-. Coming to the confirmation therein by the ld. CIT(A) on filing of the retur ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... affidavit of the Chartered Accountant authenticating the deduction to be claimed is a self supporting evidence. 7. We have heard the rival submissions and carefully perused the materials available on record. On a careful perusal of the facts and circumstances of the case, we are inclined to hold that the belated filing of the return cannot be assigned on the negligence on the part of the assessee. The assessee had been paying advance tax in accordance with the income tax act which has been returned by the assessee though belatedly when he was dependent on the Chartered Accountant for computing the deduction to be claimed under the provision of section 80IB of the Act which the AO has verified the financial statements in pursuance to prov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... deduction on the basis of belated filing of the return was to consider liberally in so far at no point of time the assessee had invalid reasons to file the return belatedly. Having paid the tax on time, having obtained audit report on time, having computed the claim of deduction on time it was nobodys case that the same should be held back to the detriment of the assessee itself. It was not the intention on the part of the assessee but only due to the circumstances which were beyond the control of the assessee. It has been categorically held that this provision as made out, the time limit should not work as punitive in so far as the purpose behind the relief is not denied was also considered by the Hon ble Apex Court in the case of CIT vs K ..... X X X X Extracts X X X X X X X X Extracts X X X X
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