| |
The Tax PublishersITA No. 276/Viz/2018
2019 TaxPub(DT) 0595 (Visakhapatnam-Trib)INCOME TAX ACT, 1961
Section 80-IA
When it came to the notice of assessee that there was taxable income, assessee itself had claimed the deduction and was entitled for deduction under section 80-IA and compliance of statutory requirements for claiming the deduction under section 80-IA was not discussed in the assessment order. Therefore, matter was remanded back to AO for limited issue of deciding the quantum of deduction.
|
Deduction under section 80-IA - Return filed in response to notice under section 153A - Entertainment of fresh claim - Computation of
During search under section 132, notice under section 153A was issued by AO and assessee filed the return of income declaring nil income and no claim was made under section 80-IA. AO observed that assessee did not claim the deduction under section 80-IA in the original return as well as in the return filed in response to the notice issued under section 153A. Assessee submitted that he was owning captive power plant and the undertaking was eligible for deduction under section 80-IA and due to inadvertent mistake, assessee did not claimed deduction under section 80-IA in response to notice issued under section 153A. Assessee also filed a revised return of income claiming deduction under section 80-IA. AO alleged that since the return of income filed by assessee was beyond the due date the same was invalid and hence the fresh claim made by assessee under section 80-IA was inadmissible and accordingly rejected. Held: As during the pendency of proceedings, when it has come to the notice of the assessee that there was taxable income, assessee itself had claimed the deduction and was entitled for deduction under section 80-IA. For the quantum of deduction, compliance of statutory requirements for claiming the deduction under section 80-IA was not discussed in the assessment order. Therefore, matter was remanded back to AO for limited issue of deciding the quantum of deduction and for obtaining the required details such as audit report, etc. before allowing the deduction.
Relied:CIT v. G.M. Knitting Industries (P.) Ltd. (2016) 71 Taxman.com 35(SC) : 2015 TaxPub(DT) 3423 (SC), Goetze (India) Ltd. v. CIT (2006) 284 ITR 323 (SC) : 2006 TaxPub(DT) 1528 (SC), National Thermal Power Company Ltd. v. CIT (1998) 229 ITR 383 (SC) : 1998 TaxPub(DT) 0342 (SC), Vedanta Limited (Successor to Cairn India Ltd.) v. Pr. CIT (2018) 93 Taxman.com 392 (Delhi) : 2018 TaxPub(DT) 2485 (Del-HC) and CIT v. Jindal Saw Pipes Ltd. (2010) 328 ITR 338 (Del) : 2010 TaxPub(DT) 2227 (Del-HC).
REFERRED :
FAVOUR : In assessee's favour by way of remand.
A.Y. :
IN THE ITAT, VISAKHAPATNAM BENCH
 SUBSCRIBE FOR FULL CONTENT
|