THE DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(1), VISAKHAPATNAM vs. KALYAN AQUA & MARINE EXPORTS INDIA PRIVATE LIMITED, VISAKHAPATNAM

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ITA 32/VIZ/2021Status: DisposedITAT Visakhapatnam14 July 2022AY 2017-186 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the assessee could not produce Form-10CCB as claimed to have been prepared on the date of filing the return. Since the form was not filed with the return, the Assessing Officer's disallowance was upheld.

What were the facts?

The assessee claimed deduction under Section 80-IB but failed to file Form-10CCB along with its return of income. The Assessing Officer disallowed the deduction, but the CIT(A) deleted the disallowance, holding the filing of Form-10CCB as directory. The Revenue appealed this decision.

What were the issues?

Whether the filing of Form-10CCB is mandatory for claiming deduction under Section 80-IB, and if not filed with the return, can it be filed later during assessment proceedings?

Which sections of the Income-tax Act were involved?

Section 80-IB

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI DUVVURU RL REDDY, HON’BLE & SHRI S BALAKRISHNAN, HON’BLE

For Appellant: Smt. Radha Keerthi, CA
Hearing: 30/06/2022

आदेश की प्रतिलिपि अग्रेपिि/Copy of the order forwarded to:- ननधधाररती/ The Assessee – M/s. Kalian Aqua & Marine Exports India 1. Pvt Ltd., MIG-25B, Lawsons Bay Colony, Visakhapatnam, Andhra Pradesh – 530017. रधजस्व/The Revenue – DCIT, Circle-3(1), Income Tax Office, Infinity 2. Tower, Shankaramatham Road, Santhipuram, Visakhapatnam, Andhra Pradesh-530016. 3. The Principal Commissioner of Income Tax-1, Visakhapatnam. आयकर आयुक्त ( अऩीऱ)/ The Commissioner of Income Tax-1, 4. Visakhapatnam. ववभधगीय प्रनतननधध, आयकर अऩीऱीय अधधकरण, ववशधखधऩटणम/ DR, ITAT, 5. Visakhapatnam गधर्ा फ़धईऱ / Guard file 6.

आदेशधनुसधर / BY ORDER

Sr. Private Secretary ITAT, Visakhapatnam

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