The assessee’s claim for a deduction under section 80IB(10) was rejected by the AO, CIT(A) and the Tribunal on the sole ground that its return of income was filed belatedly. Subsequently, in separate proceedings, the High Court had condoned the said delay. Holding that the very basis for the denial of deduction had thus been removed, the High Court, in the present petition, quashed the original assessment order itself and remanded the matter to the AO. The AO was directed to pass a fresh order considering the claim for deduction on its merits, as if the return had been filed without any delay. (AY. 2011-12)