TMI Blog2004 (12) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... accounts along with the original return, but had done the needful with the revised return filed in pursuance of the notice issued by the Assessing Officer u/s 143(2)(b). This means that it had substantially complied with the provisions of section 80HHA(4). We, therefore, hold that the Tribunal did not commit any error by deleting the addition - - - - - Dated:- 14-12-2004 - Judge(s) : G. S. SINGHVI., NIRMAL SINGH. JUDGMENT The judgment of the court was delivered by G.S. Singhvi J. - The Income-tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for short, "the Tribunal"), has, in compliance with order dated November 20, 1991, passed by this court in I.T.C. No. 14 of 1990, referred the following question of law for its opinion: ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l and the same should have been accepted by the Assessing Officer for the purpose of granting deduction under section 80HHA. We have heard Shri Rajesh Bindal and perused the record. Section 80HHA of the Act provides for deduction in respect of profits and gains from newly established small-scale industrial undertakings in certain areas. Sub-section(1) thereof lays down that where the gross total income of an assessee includes any profits and gains derived from a small-scale industrial undertaking to which this section applies, there shall, in accordance with and subject to the provisions of this section, be allowed, in computing the total income of the assessee, a deduction from such profits and gains of an amount equal to twenty per cent ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt, and, therefore, unless the conditions embodied in sub-section (1) are satisfied the assessee cannot claim deduction. However, this is not true of sub-section (5) which only provides for filing the report of audit prepared by the accountant as defined in the Explanation below section 288(2) along with the return. The assessee's claim for deduction under section 32AB(1)(a) does not depend on the submission of the audit report along with the return but on deposit of the amount in the account maintained by him with the Development Bank before the expiry of six months from the end of the previous year or before furnishing the return of income, whichever is earlier. The requirement of filing the duly audited report along with the return canno ..... X X X X Extracts X X X X X X X X Extracts X X X X
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