Income Tax Act, 1961 0 Section 139(1), 80AC, and 80IB(10) of the – Income Tax – Deduction under Section 80IB(10) – Filing of original return beyond prescribed period – Revised return – Bonafide reasons for delayed filing – The revenue appealed against the ITAT’s decision allowing deductions under Section 80IB(10) of the Income Tax Act, despite the assessee filing its original return beyond the period prescribed under Section 139(1) and claiming deductions only in the revised return. The AO initially declined the deduction, stating that the return was filed late.
The CIT upheld this decision but allowed certain deductions. The ITAT, however, held that though a return filed beyond the due date is non-est, the CIT should have considered the claim in its appellate jurisdiction. It also emphasized that taxpayers should not be burdened for bonafide mistakes. The High Court concurred, stating that the appellant had a reasonable cause for delayed filing and was entitled to deductions, as held by the ITAT and CIT. Thus, the appeal was dismissed. (Para 5)
HIGH COURT OF HIMACHAL PRADESH
2023 STPL(Web) 425 HP
[-]
Pr. Commissioner Of Income Tax, Shimla Vs. M/S H.P. Housing & Urban Development Authority (Himuda), Nigam Vihar,
Shimla
I.T.A.No.35 of 2019-Decided on 22-12-2023
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