The Income Tax Appellate Tribunal (ITAT) Bangalore bench consisting of George George K, Judicial Member and Laxmi Prasad Sahu, Accountant Member held that assessee can claim deduction u/s801A after due date when deduction was not claimed in the original return.
The assessee, M/s Jitendra Kumar Nahata filed its return of income declaring a gross total income of Rs.1,43,39,512/- and claimed deduction under u/s 80IA for Rs.36,82,815/- including the deduction u/s 80IA for Rs.35,02,815/- . Later, the assessee filed revised return of income declaring same income which was processed U/s 143(1)(a) of the Income Tax ( I T ) Act denying deduction claimed u/s 80IA.Against the processing of income tax return, the assessee filed rectification petition before the CPC (Central Processing Unit) ,which was not accepted and the order was passed by rejecting the claim of the assessee . Hence the assessee filed appeal before the CIT (Commissioner of Income Tax) and the authority did not allow the claim of the deduction. Aggrieved by the order of CIT the assessee filed an appeal before ITAT.
The Counsel for appellant,Sunaina Bhatiasubmitted that the assessee was continuously enjoying the deduction of u/s 80IA merely for non filing of Form No.10CCB within the due date does not bar to claim for deduction by the assessee. The Counsel for respondent (Sankarganesh K) submitted that the assessee did not file Form No.10CCB along with the original return of income. The provision of sec.80 A is very clear that for claiming deduction , the return should be filed within the due date as per sec. 139(1), whereas the assessee did not file Form No.10CCB and later on, he filed revised return of income.
The Tribunal relying on various judgments held that “the assessee can be allowed deduction u/s. 80 IA merely on the fact that the return was filed within the due date and in spite of the fact that the claim u/s. 801A was made for the first time in the revised return. In the instant case, the appellant had claimed the deduction u/s 801A in the original return and only revised it subsequently. The assessee did not file the Form No.10CCB during the course of filing the original return but filed it subsequently in the revised return.”
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