The Income Tax Appellate Tribunal (ITAT), Bangalore Bench has held that the Claim of deduction under section 80IA of IncomeTax Act 1961 cannot be disallowed only for the omission of From NO.10CCB within the due date while the revised return was filed within due date.
The appellant assessee filed a return ofincomeon 30/12/2017 declaring a gross total income of Rs.1,43,39,512/- and claimed deduction under Chapter IVA u/s 80IA for Rs.36,82,815/- including the deduction u/s 80IA for Rs.35,02,815/. Laterthe appellant filed a revised return of income on 25/6/2018 declaring the same income which was processed U/s143(1)(a) of the Income Tax Act. 1961 for which the CPC, Bangalore denied the claim on 18/12/2019.The appellant filed a rectification petition u/s 154 of the Income Tax Act 1961 which was not accepted and rejected the claim by the order was passed on 9/1/2020.On appeal filed before CIT(A), the appellant was disallowed to claim the deduction by holding that Form No.10CCB was not filed in time as per the provision of sec. 139(1).
The appellant contended that From No.10CCB was not filedon the due date of filing of return of incomebut later filed requisite form and revised return of income after obtaining Form No.10CCB and claimed that the appellant was continuously enjoying the deduction of u/s 80IA, merely for non-filing of Form No.10CCB within the due date does not bar the claim.
The respondent stated that the appellant failed to submit Form No.10CCB along with the original return of income and it is a violation under the provision of sec.80 IA.
The Tribunal observed thatthe appellant filed his return of income u/s 139(1) within the due time along with claiming the deduction u/s 80IA and failed to file Form No. 10CCB which waslater submitted by the filing of a revised return of income within the due date.It was observed that the tax Auditor has certified the deduction claimed as per Sl.No.33 of Form No.3CD and the only ground for disallowance was the non-filing of Form NO.10CCB, to which, the appellant had filed a revised return within the due date.
The Coram consists of Shri George K, Judicial Member andShri Laxmi Prasad Sahu, Accountant Member allowed the appeal for statistical purposes and held the appellant eligible to claim deduction u/s 80IA.Smt. Sunaina Bhatia appeared on behalf of the appellant and Shri. Sankarganesh K appeared on behalf of the respondent.
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