TMI Blog2021 (11) TMI 351X X X X Extracts X X X X X X X X Extracts X X X X ..... ame has been reached finality also merits consideration - we are of the considered view that the entire exercise made by the Authorities in denying the deduction under Section 80IB[10] is based on the revision return said to have been filed by the assessee withdrawing the claim of deduction under 80IB but the document now placed before the Court said to be the revised return dated 24.12.2008, would indicate that the deductions under Chapter VI-A [Schedule 10] were claimed by the assessee. The proceedings of the Authorities and the Tribunal warrants interference so as to ascertain the genuineness of this return said to have been filed by the assessee, in the light of Section 80AC of the Act. Hence, without expressing any opinion on the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... several case laws the Tribunal ought to have granted relief by allowing the claim of eligible deduction under Section 80IB[10] of the Act, on the facts and circumstances of the case? 3. Whether the Tribunal was justified in denying the benefit of deduction under Section 80IB[10] of the Act without properly appreciating that the claim of deduction has been granted to the appellant on the very same project in the subsequent assessment year 2007-08 and consequently passed a perverse order on the facts and circumstances of the case? 4. Whether the authorities below are justified in law in charging interest under Section 234B and 234C of the Act on the facts and circumstance of the case? 3. The assessee is a private limited compa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d refers to the deduction claimed under Section 80IB[10] of the Act i.e., under Chapter VI-A [Schedule 10] at ₹ 3,973,958/- in Part-B of the Computation of Income and Tax, the Authorities proceeded on a footing that the claim of deduction under Section 80IB[10] of the Act was indeed withdrawn in the revised return and thereby denied the claim of deduction made by the assessee. Learned senior counsel would submit that it is settled legal position that no tax would be collected without the authority of law and there is no estoppel against law. Even if any consent is made as per the letter dated 29.07.2008, the same would not confer jurisdiction on the authorities to deny the benefit when the law holds otherwise. Learned senior counsel p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 80-IC or section 80-ID or section 80-IE; (ii) the 1st day of April, 2018, any deduction is admissible under any provision of this Chapter under the heading C.- Deductions in respect of certain incomes , no such deduction shall be allowed to him unless he furnishes a return of his income for such assessment year on or before the due date specified under sub-section (1) of section 139. 8. In terms of the said provisions, no deduction shall be allowed to an assessee unless he furnishes a return of his income for such assessment year on or before the due date specified under sub-section[1] of Section 139 which undisputedly applies to Section 80IB as per Clause[i] of 80AC. Learned senior counsel has made an endeavor to argue t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the deduction claimed by the assessee under Section 80IB[10] with respect to return dated 24.12.2008 vis- -vis Section 80AC of the Act and the settled legal principles holding the field on the subject matter of Section 80IB[10] of the Act. Accordingly, we pass the following: ORDER i] Appeal is allowed in part. ii] The impugned order passed by the Tribunal dated 15.03.2017 in ITA No.1784/Bang/2016; the order of the Assessing Officer dated 31.12.2008 and the order of the Commissioner of Income-Tax [Appeals] dated 11.08.2016 in ITA.No./39/C- 11[4]/CIT[A]/BNG-3/2014-15 are set aside. iii] The matter is restored to the file of the Assessing Officer to re-consider the matter in the light of the observations made herein above ..... X X X X Extracts X X X X X X X X Extracts X X X X
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