TMI Blog2022 (6) TMI 189X X X X Extracts X X X X X X X X Extracts X X X X ..... ith the return of income is not mandatory, but directory and the audit report can be filed at any time before framing of assessment, so as to meet out the requirement of section 80IA(7). As also settled law that the taxing statute should be read prospectively and not retrospectively. Applying the said legal proposition to the facts of the present case, wherein it is an admitted fact that the respondent / assessee furnished the audit report during the course of assessment relating to the assessment year 2009-10 and they very well complied with the requirement of section 80IA(7) for claiming deduction under section 80IA - CIT(A) allowed the claim of the respondent / assessee, which was also rightly affirmed by the ITAT and the same do not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that the the provisions of section 80-IA(7) requiring filing of audit report along with return are not mandatory, but directory and if the audit report is filed at any time before framing of assessment, then requirement of section 801A(7) would be met. Challenging the same, the appellant / Revenue filed an appeal before the ITAT, which, by order dated 11.06.2013, dismissed the same. Therefore, this tax case appeal by the appellant / Revenue. 3. The learned senior standing counsel appearing for the appellant submitted that during the course of hearing, the Assessing Officer required the respondent / assessee to produce the copy of audit report of Chartered Accountant as required under Section 801A evidencing the purchase of windmill, inco ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Court in Sutures India (P) Ltd. v. Commissioner of Income Tax, Bangalore [2021 (125) Taxmann.com 226 (Karnataka)] wherein it was held that the assessee is entitled to deduction under Section 80IA of the Act even if the audit report is filed at the appellate stage . Therefore, the learned counsel submitted that the order of the Tribunal does not warrant any interference by this court. 5. We have heard the learned counsel for both sides and perused the materials placed on record. 6. This Court, by order dated 02.04.2014 admitted the appeal on the basis of the following substantial question of law for consideration: Whether on the facts and in the circumstances of the case, the Tribunal is correct in law in holding that provisi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ectively. Applying the said legal proposition to the facts of the present case, wherein it is an admitted fact that the respondent / assessee furnished the audit report during the course of assessment relating to the assessment year 2009-10 and they very well complied with the requirement of section 80IA(7) for claiming deduction under section 80IA. Therefore, the CIT(A) allowed the claim of the respondent / assessee, which was also rightly affirmed by the ITAT and the same do not call for any interference at the hands of this Court. 9. At this juncture, it is apposite to refer to the decision of the Karnataka High Court in Sutures India (P) Ltd., v. Commissioner of Income Tax, Bangalore, referred to above by the learned counsel for ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
