Section 80IA Benefit not allowed when Income Tax return filed belatedly: ITAT Nagpur

ACIT Vs Gondwana Engineers Ltd. (ITAT Nagpur) ITAT Nagpur held that once the return of income has been filed belatedly, no benefit under section 80IA of the Income Tax Act is allowed. Accordingly, deduction u/s. 80IA disallowed. Facts- The assessee is an engineering company and deals in designing, constructing, erecting, developing, commissioning and maintaining water treatment plants and projects of various types treating raw water into potable water and other related engineering works for various Municipal Corporation and other Governmental authorities. Assessee filed the return of income u...