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TMI Blog2025 (5) TMI 1494X X X X Extracts X X X X X X X X Extracts X X X X ..... of the profits and gains derived from such business amounting to Rs. 20,27,56,020/- by making adjustment u/s. 143(1)(a)(ii) on the ground that Form 10CCB is not filed or not filed within the due date. 3. Upon assessee's appeal, Ld. CIT(A) elaborately dealt with the issue in this case and upheld the order of the CPC, Bangalore. The order of the Ld. CIT(A) in this regard reads as under:- The issue involved in all these appeal is regarding denial of deduction claimed under section 80IAC of the Act amounting to Rs. 20,27,56,020/- and the appellant has furnished the combined submission on these grounds and therefore, these ground are being taken together. While processing the return of income under section 143(1) of the Act, the deduction cla ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hat the return form does not have any column regarding satisfaction of other prescribed conditions. In the absence of the audit report, there is no other way to ascertain the fulfilment of such conditions. It is not out of place to mention here that the adjustments made at the time of processing of return are prima-facie adjustments required to be made on the face of the return. At present, to remove the human interface between income-tax department and assessee, a 100% technology-driven process has been adopted to process the return in accordance the prescribed procedure and format wherein the adjustments, if any are made on the basis of the entries made by the assessee at different places in the relevant Schedules of the return or in t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... equired to be furnished as per section 80IA (7) has been prescribed under Rule 18BBB of the Rules which is Form No. 10CCB. From the above provisions, it may be seen that by virtue of provision of sub-section (4) of section 80IAC, the provisions of subsection (7) of section 80IA have been made applicable to the start-ups for claiming deduction under section 80IAC of the Act although the word start-ups has not been used in said subsection. Consequently, Rule 18BBB of the Rules prescribing the form 10CCB has also become applicable to the start-ups. As per sub-section (7) of section 80IA so made applicable to the assesse claiming deduction under section 80IAC, the furnishing of audit report in Form 10CCB within specified date is mandatory fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 80IAC for the failure of the appellant to furnish the Form No. 10CCB is hereby confirmed." 4. Against the above order, assesse is in appeal before us. 5. We have heard both the parties and perused the records. Ld. Counsel for the assessee reiterated the submissions made before the Ld. CIT(A) that the amount claimed is correct as section 80IAC does not provide for filing of Form 10CCB. Further, he submitted that Form 10CCB does not mention that the said form has to be furnished under the provisions of section 80IAC. Per contra, Ld. DR referred to sub-section 80IAC(4) and also referred to section 80IAC and submitted that Ld. CIT(A) has passed a correct order which does not need any interference on our part. 6. Upon careful ..... X X X X Extracts X X X X X X X X Extracts X X X X
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