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| The Tax Publishers2020 TaxPub(DT) 4504 (Hyd-Trib) INCOME TAX ACT, 1961
Section 80P Section 154
Where assessee filed its return of income for relevant assessment years pursuant to the notice issued under section 148 claiming deduction under section 80P, therefore, the assessee complied with the provisions of section 80A(5), which does not stipulate that return of income should be filed within the due date prescribed under section 139(1) and section 139(4), so as to claim deduction under section 80P.
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Deduction under section 80P - Allowability - Allegation that assessee did not file its return of income within the time limit provided under section 139(1) or 139(4) or within the time limit specified in the notice under section 142(1) -
Assessee did not file its return of income within the time limit provided under section 139(1) or 139(4) or within the time limit specified in the notice under section 142(1). On allegation that penal section 276CC was attracted for non-filing the return of income and in terms of section 80A(5), revenue denied deduction under section 80P to assessee. Assessee challenged order of CIT(A) confirming order of AO, and contended that AO had unduly withdrawn deduction claimed by the assessee under section 80P invoking his powers under section 154. Held: Assessee filed its return of income for both relevant assessment years, pursuant to the notice issued under section 148 claiming deduction under section 80P, therefore, the assessee complied with provisions of section 80A(5). Section 80A(5) only stipulates that the assessee should claim the deduction in the return of income which the assessee had complied while responding to notice issued under section 148. Further, section 80A(5) does not stipulate that the return of income should be filed within the due date prescribed under section139(1) and section 139(4).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2006-07 & 2008-09
IN THE ITAT, HYDERABAD BENCH
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