Section 80IC deduction not allowable if Assessee not file return within section 139(1) due date

Right Tight Fastners Pvt. Ltd. Vs ACIT (ITAT Mumbai) Section 139(1) casts an obligation on every assesses to furnish the return of income by the due date. With a view to enforce the compliance this regard by the assessees who are entitled for deduction under Section 1 OB from their income, a proviso (fourth proviso) to sub-section (1) of Section 10B has been inserted so as to provide that no deduction under Section 1 OB shall be allowed to an assessee who does not furnish a return of his income on or before the due date specified in sub-section (1) of Section 139. Similarly. with a view to enf...