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3. In ground No. 1, the Revenue has challenged the direction of the learned Commissioner of Income-tax (Appeals) in allowing 100% deduction under section 80IC of the Act by considering the return of income which was filed after the due date under section 139(5) of the Act.

3.1 Before us, the learned Senior Departmental Representative addressing the grounds submitted that in the case of the assessee, revised return could have been filed at any time before 31/03/2011, but the revised was filed on 28/09/2011, thus, it was not a valid revised return and therefore claim of deduction of 100% under section 80IC of the Act as against 25% claimed in the original return, was rightly denied by the Assessing Officer and the action of the learned Commissioner of Income-tax (Appeals) was not in accordance to law.

3.3 We have heard the rival submissions and perused the material on record including the paper book filed by the assessee. The Assessing Officer has denied the hundred percent deduction under section 80IC of the Act on the ground that the revised return in which the claim for hundred percent deduction was made, is not valid revised return. On this issue learned Commissioner of Income-tax (Appeals) after considering precedents available opined that the Assessing Officer is duty- bound to assess the correct income and allow the claims/deductions as are admissible to the assessee, even if, AY: 2009-10 omitted to be claimed by the assessee. Thus, there are two issues before our consideration. The first issue is whether the claim of hundred percent deduction under section 80IC of the Act is admissible to the assessee as per law. The second issue is whether such claim made through a invalid revised return can be allowed to the assessee.