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| The Tax Publishers2019 TaxPub(DT) 3738 (Chd-Trib) : (2019) 072 ITR (Trib) 0402 INCOME TAX ACT, 1961
Section 80-IB(10)
Considering the fact that assessee was otherwise eligible to claim deduction under section 80-IB, same could not be denied solely for the reason that deduction had not been claimed originally before AO.
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Deduction under section 80-IB(10) - Allowability - Assessee not having claimed deduction originally before AO -
Question arose for consideration was whether deduction claimed by assessee under section 80-IB before CIT(A) which was originally not claimed owing to the fact that audit of books of account of assessee had been delayed, could be allowed. Held: Basic purpose of appeal procedure in income-tax matter is to ascertain correct tax liability of assessee in accordance with law. Therefore, considering the fact that assessee was otherwise eligible to claim deduction under section 80-IB, same could not be denied solely for the reason that deduction had not been claimed originally before AO.
Relied:Goetze (India) Ltd. v. CIT (2006) 284 ITR 323 (SC) : 2006 TaxPub(DT) 1528 (SC) and National Thermal Power Company Ltd. v. CIT (1998) 229 ITR 383 (SC) : 1998 TaxPub(DT) 342 (SC).
REFERRED : CIT v. Pruthvi Brokers & Shareholders Pvt. Ltd. (2012) 349 ITR 336 (Bom.) : 2012 TaxPub(DT) 2671 (Bom-HC).
FAVOUR : In assessee's favour.
A.Y. : 2006-07
INCOME TAX ACT, 1961
Section 36(1)(iv)
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