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TMI Blog2023 (5) TMI 1140X X X X Extracts X X X X X X X X Extracts X X X X ..... The assessee has assailed the impugned order on the following grounds of appeal: "1) In the facts and circumstances of the case and in law, the Ld. Commissioner of Income-tax (Appeals), NFAC has erred in denying claim of deduction Rs.16,86,650/- u/s 80IB of Income-tax Act, 1961 on the ground of delayed filing of Audit Report in Form 10CCB despite that had occurred due to technical glitches during critical phase of pandemic COVID-19. 2) In the facts and circumstances of the case the ld. Commissioner of Income-tax (Appeals), The impugned order is bad in law and on facts. 3) The appellant reserves the right to addition, alter or omit all or any of the grounds of appeal in the interest of justice." 2. Succinctly stated, the assessee who ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... th January 2022 was extended upto 15.02.2022, therefore, her claim for deduction u/s.80IB(11A) of the Act was declined by the CPC vide intimation u/s.143(1) of the Act, dated 05.07.2022. 6. On appeal, the CIT(Appeals) finding no infirmity in the view taken by the A.O/CPC upheld the disallowance u/s.80IB(11A) of the Act. 7. I have given a thoughtful consideration to the issue in the backdrop of the contentions advanced by Shri Piyush Tripathi, Ld. Sr. DR, and also perused the orders of the lower authorities. As observed by the CIT(Appeals), the time period for filing of the return of income and various audit reports for the assessment year 2021-22 had been extended by the CBDT vide its Circular No.01/2022, F.No.225/49/2021/ITA-II dated 11t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act r.w. 80IB(13) r.w. 80IA(7), therein presupposes that the accounts of the undertaking for the previous year relevant to the assessment year for which deduction is claimed, have been audited by an accountant as defined in the "Explanation" to sub-section (2) of Section 288 of the Act, before the specified date referred to in Section 44AB and the assessee furnishes by that date the report of such audit in the prescribed form duly signed and verified by such accountant. For the sake of clarity, Section 80IA(7) is culled out as under: "(7) The deduction under sub-section (1) from profits and gains derived from an undertaking shall not be admissible unless the accounts of the undertaking for the previous year relevant to the assessment year ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eliberating on the aspect as to how a concession/exemption/incentive/rebate/subsidy notifications or provisions are to be construed, had, inter alia, observed that benefit of proving applicability of exemption would be on the assessee who would be obligated to show that his case comes squarely within the parameters of the exemption notification or exemption clause. Further, it was observed by the Hon'ble Apex Court that if the words in a statute are clear, plain and unambiguous and only one meaning can be inferred, then, the courts are bound to give effect to the said meaning irrespective of consequences. It was further observed that if the words in the statute are plain and unambiguous, it becomes necessary to expound those words in their ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... I am of the considered view that as the assessee in the present case had failed to strictly comply with the innate statutory requirements contemplated in section 80IB (11A) r.w. 80IB(13) r.w.80IA(7) of the Act, which in clear and unequivocal terms disentitles an assessee from claiming deduction u/s.80IB of the Act, if it had, inter alia, failed to furnish the audit report in Form 10CCB r.w. 18 BBB before the specified date referred to Section 44AB of the Act, therefore, the lower authorities have rightly declined her claim for deduction u/s.80IB of the Act. In sum and substance, as the assessee had failed to comply with the statutory conditions which rendered her eligible for claiming deduction u/s.80IB of the Act, therefore, finding no in ..... X X X X Extracts X X X X X X X X Extracts X X X X
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