INCOME TAX ACT, 1961

Section 80-IA

Deduction under Section 80-IA - Allowability - Assessee failed to file audit report under Section 80-IA(7) along with original return of income filed under Section 139 but presented the same during assessment proceedings -

Assessee claimed deduction under section 80-IA. AO disallowed deduction on the ground that assessee failed to file audit report under Section 80-IA(7) along with original return of income filed under Section 139 but presented the same during the course of assessment proceedings under Section 143. Held: As per provisions of section 80- IA(7), requirement of filing of audit report alongwith return is not mandatory rather it is directory and if audit report is filed at any time before framing assessment, the required conditions are considered to be fulfilled. In the instant case, though assesse did not file audit report under section 80-IA(7) along with original return of income filed under section 139 but presented the same during the course of assessment proceedings under section 143, AO was not justified in denying deduction.

REFERRED :

FAVOUR : In assessee's favour

A.Y. :

INCOME TAX ACT, 1961

Section 80-IA

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