Law:

Section:

Section 80HHA of the Income-tax Act, 1961 - Deductions - Profits and gains from newly established small scale industrial undertakings - Assessment year 1983-84 - Whether section 80HHA(4) is not mandatory and non-compliance thereof cannot be made basis for denying benefit of deduction to an assessee in terms of section 80HHA(1), if duly audited accounts are filed by assessee before assessment and a plausible explanation is given for not filing same along with return - Held, yes - Whether where assessee had not filed audited accounts along with original return, but had done needful with revised return filed in pursuance of notice issued by Assessing Officer under section 143(2)(b), it could be said that it had substantially complied with provision of section 80HHA(4) and, Assessing Officer was not justified in making addition on account of disallowance of assessee's claim for deduction under section 80HHA(1) - Held, yes CASE REFERRED TO CIT v. Punjab Financial Corpn. [2002] 254 ITR 6/ 121 Taxman 656 (Punj. & Har.) (FB) [Para 5]. Rajesh Bindal for the Applicant. JUDGMENT G.S. Singhvi, J. - The Income-tax Appellate Tribunal, Chandigarh Bench, Chandigarh (for short, 'the Tribunal') has, in compliance of order dated 20-11-1991 passed by this Court in I.T.O No. 14 of 1990, referred the following question of law for its opinion :- "Whether on the facts and in the circumstances of the case, the learned Tribunal is right in law in deleting the addition of Rs. 17,876 made on account of disallowance of assessee's claim for deduction under section 80HHA on the basis of revised return which was not filed along with original return?" 2. The assessee is engaged in the business of manufacturing rice. The original assessment in relation to the assessment year 1983-84 was completed by Income-tax Officer C-Ward, Ambala (hereinafter described as 'the Assessing Officer') under section 143(1) of the Income-tax Act, 1961 (for short, 'the Act') at Rs. 5,795. The assessment was re-opened under section 143(2)(b). The assessee filed revised return on 2-9-1985 along with duly audited accounts. Thereafter, vide order dated 16-9-1985, the Assessing Officer assessed the income of the…

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