AY 2017-18 : FORM 10CCB was not submitted along with the income tax return for the said year. claim u/s 80 IC was made in the return. further, the Company could not submit its online reply in time, now response link deactivate . What is the impact of not filing the report? does the claim u/s 80 IC still applicable?
if claim not available. what will be remedy
Hi,
You may face issues during assessment. Assessing officer may deny your claim in absence of audit report of CA u/s 10CCB.
However, there are cases wherein courts have allowed the deduction even if 10CCB was filed late.
Refer below case:
Lancer food product (ITA 4133/Del/2016)
Hi
Ideally form 10CCB is mandatory for claiming deduction under section 80IC. Due to non filing of 10CCB, it is expected to receive a notice for such disallowance. However, based on the judicial pronouncements, it has been observed that the deduction is provided on genuine grounds.
But, in all, this makes the case litigative and chances of your case being opened up becomes high.
Dear Sir,
Ideally the claim made by you under section 80IC will not be available. The only remedy available to you is to submit form in physical copy with your bonafide intention and genuine reason for non submission online.
And through commissioner approval you can still take benefit of it
You might get a notice from income tax department rejecting your claim of 80IC and at that time you can explain them that the CA forgot to upload the form and then in scrutiny try to submit the form manually.
You can still try to upload it normally online because I have seen many people uploading form 10CCB online after due date also. Just go to upload form section and try.
Hope you find the information helpful if you do please rate it 5 and provide your valuable feedback for my improvement.
Thank you
Ideally form 10CCB has to be submitted for claiming deduction under section 80IC. Though in the past, deduction has been allowed in genuine cases, it just makes the case litigative.
However you will need to convince the officer and ensure that the deduction is not disallowed.
Regards,
Nikhil.
Hi,
Hope you are doing well !
For claiming deduction u/s 80ICA, form 10CCB has to be submitted.
However, in genuine cases Assessing officer may allow the deduction.
You will have to convince the officer for the same.
Hello Sir
Ideally for deduction under section 80IC form 10CCB should be submitted. However you required to convince the officer & ensure that the deduction is not disallowed.
