Assessee-company filed its return of income and claimed exemption under section 80-IB.\u00a0 Assessing Officer denied\u00a0 the exemption\u00a0\u00a0 on ground that assessee had failed to file audit report in Form-10CCB along with its returns and subsequently issued intimation under section 143(1). On receipt of the intimation the assessee\u00a0 filed an application under section 154 after uploading copy of auditor report in Form-10BBC. CPC\u00a0 rejected the\u00a0 application. On appeal\u00a0 the Tribunal\u00a0 relied on the Circular No. 689 of 19994, dated 24-8-1994, directed the AO to allow the claim by passing the rectification order\u00a0 allowing the claim under section 80IB of the Act.\u00a0 (AY. 2017-18, 2018-19)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 154 : Rectification of mistake-Mistake apparent from the record-Industrial undertakings-Failure to audit report-Audit report in Form 10CCB was up loaded on receipt of intimation u\/s 143(1)-The Assessing Officer is directed to grant the relief. [S. 80IA, 143(1), Form-10BBC] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-34330","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-8VI","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34330","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=34330"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34330\/revisions"}],"predecessor-version":[{"id":34331,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/34330\/revisions\/34331"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=34330"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=34330"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=34330"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}