[aaykarbhavan] SEARCH- deduction claimed in 153A not in 139(1)

 

IT : Deduction claimed under section 80-IB(10) in return filed under section 153A cannot be denied on ground that claim was not made earlier in return filed under section 139(1)

IT: Where assessee filed return of income in response to notice issued under section 153A, interest under section 234A was liable to be charged from date of expiry of notice period given in notice under section 153A to date of completing assessment under section 143(3)

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[2013] 32 taxmann.com 133 (Chennai - Trib.)

IN THE ITAT CHENNAI BENCH 'A'

Assistant Commissioner of Income-tax, Central Circle -1(3), Chennai

v.

V.N. Devadoss*

Dr. O.K. Narayanan, VICE-PRESIDENT
AND Vikas Awasthy, JUDICIAL MEMBER

IT Appeal Nos. 1219 to 1223 (Mds.) of 2012
[ASSESSMENT YEARS 2008-09 TO 2010-11]

FEBRUARY  4, 2013 

I. Section 80-IB, read with sections 80AC, 132, 139 and 153A, of the Income-tax Act, 1961 - Deductions - Profits and gains from industrial undertakings other than infrastructure development undertakings [Housing projects] - Assessment years 2008-09 to 2010-11 - Whether to avail benefit of deduction under section 80-IB(10) it is necessary that assessee must file return of income before due date prescribed under section 139(1) - Held, yes - Whether a return filed in pursuance of a notice issued under section 153A is as good as a return filed under section 139 and more particularly under section 139(1) - Held, yes - Whether deduction claimed under section 80-IB(10) in a return filed under section 153A can be denied on ground that claim was not made earlier in a return filed under section 139(1) - Held, no [Paras 26 to 42] [In favour of assessee]

II. Section 234A, read with sections 139, 143 and 153A, of the Income-tax Act, 1961 - Interest, chargeable as [Computation of period of interest] - Assessment years 2008-09 to 2010-11 - For relevant assessment years, assessee filed returns of income in response to notices issued under section 153A on 23-9-2011 - Assessing Officer levied interest under section 234A upon assessee - Commissioner (Appeals) directed Assessing Officer to charge interest under section 234A from date of expiry of notice period given in notices under section 153A to date of completing assessment under section 143(3) - Whether Commissioner (Appeals) was justified in his view - Held, yes [Para 45] [In favour of assessee]

 

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