Deduction u/s 80IC claimed via belated return is permissible

Canadian Specialty Vinyls Vs ITO (ITAT Delhi) ITAT Delhi held that deduction u/s 80IC of the Income Tax Act is permissible on account of belated filing of return beyond the prescribed time limit u/s 139(1) of the Income Tax Act. Facts- Revenue mainly contested that the Id. CIT(A) has wrongly held that the assessee is entitled to claim deduction u/s 80IC of the Act, because, the claim was not made in the return of income filed within the prescribed time limit provided u/s 139(1) of the Act. Conclusion- Held that in the present case, the assessee is claiming deduction u/s 80IC of the Act, theref...