Assessment completed u\/s 143(3).\u00a0 Subsequently, an application u\/s 264 filed before the Pr. CIT for the bonafide error in not claiming the deduction u\/s 80-IA in the return of income nor in the assessment proceedings, the Pr. CIT denied.\u00a0 On writ, the petitioner submitted that the relevant assessment year being the first year of business operation, the assessee is entitled to the beneficial provision for deduction u\/s 80-IA.<\/p>\n
Allowing the petition, the Court held that there is no limitation on power of Pr. Chief CIT or Chief CIT or Pr. CIT or CIT while invoking jurisdiction u\/s 264 of the Act nor confined to legality or validity of assessment order or a claim made and disallowed or a claim not put forth by the assessee and accordingly, set aside with a direction to the Pr. CIT. Followed \u00a0<\/strong>Geekay Security Services (P.) Ltd. vs. Dy. CIT (2019) 101 taxmann.com 192 \/ 261 Taxman 152 (Bom) (HC), \u00a0<\/strong>Goetze (India) Ltd. vs. CIT (2006) 284 ITR 323 (SC) distinguished (AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":" S. 264 : Commissioner-Revision of other orders-Claim under section 80IA is not made in the return-Assessment is completed u\/s 143(3)-Rejection of Revision application is set aside-Remanded to the Commissioner to consider the claim on merit.[S.80IA. Art. 226] <\/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-42570","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-b4C","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42570","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=42570"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42570\/revisions"}],"predecessor-version":[{"id":42571,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/42570\/revisions\/42571"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=42570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=42570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=42570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}