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Showing contexts for: revised return when valid in Deputy Commissioner Of Income Tax, ... vs M/S. Venkateswara Wires Pvt. Ltd., ... on 16 July, 2018Matching Fragments
DCIT v. M/s Venkateswara Wires Pvt. Ltd.
6. We have considered the rival submission as well as the relevant materials on record. We note that the assessee filed its revised return of income on 25.03.2013 along with the audit report in Form No. 10 CCB and claimed of deduction U/s 80IA of the Act. The revised return of income was within the period of limitation as provided U/s 139(5) and therefore, it was a valid revised return of income. Once, the assessee filed a valid revised return of income and complied with the conditions as stipulated U/s 80IA of the Act then, the claim of the assessee cannot be denied merely on the ground that the assessee has not claimed deduction in the original return of income and also not filed the tax report in Form No. 10CCB along with return of income filed U/s 139(1) of the Act. The Hon'ble jurisdictional High Court in case of CIT vs. Rajasthan Fasteners (P) Ltd. (supra) has considered this issue and held in paras 8 to 18 as under:-