Deduction U/s. 80IB not allowable on non filing of Return within prescribed time U/s. 139(1)

Suolificio Linea Italia (India) (P) Ltd. Vs JCIT (Calcutta High Court)

Conclusion: Deduction under section 80-IB was not allowable in case assessee did not file its return of income for relevant assessment year within period prescribed under section 139(1) as per the condition imposed by section 80AC.

Held: When the governing provision i.e., section 80AC expressly mandates that no such deductions shall be allowed unless the assessee filed his returns of income “on or before the due dates specified under” Sect

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