Case Law Details
Shiv Kumar Sushil Kumar Tea Enterprises (P) Ltd. Vs ACIT (ITAT Jaipur)
Conclusion: Where assessee had not filed return within the time prescribed U/s 139(1), deduction u/s 80IA was not allowable to assessee as there was clear violation of section 80AC which clearly provided that deduction would not be allowed unless return was furnished on or before due date specified under section 139(1).
Held: Assessee company had claimed deduction U/s 80IA. However, the return was not filed within the time prescribed U/s 139(1), therefore, AO denied the deduction. It was held the provisions of Section 80AC were very clear and unambiguous, therefore, there was no scope for any authority to go beyond such provision of the law. The law clearly provides that the deduction should not be allowed unless the return furnished on or before the due date specified under sub-section (1) of Section 139.
FULL TEXT OF THE ITAT JUDGEMENT
The appeal filed by the assessee emanates from the order of the ld. CIT(A), Kota dated 26/12/2016 for the A.Y. 2013-14, wherein the assessee has raised following grounds of appeal:
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