Dismissing the appeal of the assessee the Tribunal held that condition imposed u/s 80AC of the Act is mandatory failure to file the return u/s 139(1) of the Act , the assessee is not eligible to claim the deduction u/s 80IB(10 ) of the Act . Followed Saffire Garments ( 2013) 140 ITD 6 (SB) (Ahd) (Trib) ( ITA No . 2164 /Mum/2016 dt 11-10 2019 ) (AY. 2012-13 )
Uma Developers v ITO ( 2020)BCAJ-January – P.34 (Mum) (Trib)
S. 80AC : Return to be furnished – Housing projects- Fling of return of income u/s 139(1) is mandatory for claiming the deduction u/s 80IB (10) -Not eligible to claim the deduction . [ S.80IB(10),139(1) ]