eared in not appreciating that as per provisions of
section 80AC inserted w.ef· 1.4.2006 no deduction u/s 80IA shall be
allowed unless ... quotes Section 80A(5)
r.w.s.80AC that an assessee ought to file a return; and that
date for filing the
return was 31-08-2019.
As per section 80AC deduction under any provision of the Chapter
under the heading ... supra), we
hold that the condition imposed under section 80AC of the Act has to
be fulfilled for claiming deduction under 801B
section 80IC
shall not be available as the mandatory requirement of section 80AC would
not have been met."
4. Being aggrieved with the direction ... denied to assessee.
7. Section 80AC provides that deduction u/s 80IC shall be allowed to
assessee if the return is filed on or before
provisions of section 80AC (ii) of the Act, as amended by
the Finance Act, 2018 with effect from Assessment Year 2018-19, no
deduction under ... provisions of section 80AC (ii) of the
Act. Further, the appellant has not obtained condonation of the said delay
in filing the return of income
section 80A(5) of the Act. His further submission was that
section 80AC of the Act as it existed prior to its substitution ... Finance
Act, 2018 w.e.f. 01.04.2018 reads as follows:
"80AC. Deduction not to bs allowed unless return furnished--Where
in computing the total
erred in not appreciating that as per provisions of
section 80AC inserted w.e.f. 1-4-2006 no deduction u/s 80IA shall ... quotes Section
80A(5) r.w.s.80AC that an assessee ought to file a return; and
that
virtue
of the provisions of section 80AC of the Act, under the facts and in the
circumstances of the appellant's case ... therefore, there was
remained no transgression of the provisions of Sec. 80AC of the Act in order
to deny the legitimate claim of deduction
satisfied with the reasons
and in view of provisions of section 80AC of the Act denied the
deduction ... applying the provisions of section 80AC of
the Act. The undisputed facts remains that the assessee filed
belated e-return
2019
assessment year was 30.11.2014. According to the PCIT as per
section 80AC of the Act, no deduction u/s.80IA shall be allowed ... Chny/2019
6.1.1. As per the provisions of Section 80AC deduction is admissible
under section 80-IA only if the assessee furnishes a return
relying on the provisions of Sec.80AC.
2.2 The Commissioner of Income Tax (Appeals) ought to
have appreciated that the delay in filing the return ... this very project in the
earlier years and as such section 80AC would not apply
to the facts of the case.
3. The Appellant craves
