TMI Blog2015 (4) TMI 1196X X X X Extracts X X X X X X X X Extracts X X X X ..... m Proceedings by filing any appeal, yet, the Tribunal found that the original return of income was filed on 31st October, 2005. That was accepted by the Assessing Officer. The search took place on 11th February, 2009 and the deduction under section 80IB(10) was disallowed by the Assessing Officer on grounds not germane to section 271(1)(c). Meaning thereby, there was no material found during searc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 271(1)(c) of the Income Tax Act, 1961. 2. The Tribunal has assigned cogent and satisfactory reasons for deletion of the penalty. It has found from the factual position that prior to the date of search, a return of income was filed and which came to be finalized. The search took place in the instant case on 11th February, 2009 but the return came to be finalized prior to 11th February, 2009. Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X
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