06 August 2011
The assessee is eligible for deduction u/s 80IC of IT Act. But the assessee had filed the ITR after the due date. Now the case has come under the scrutiny by CASS.
Is is still eligible for exemption u/s 80IC of the respective AY or not.
07 August 2011
AO has no power to condone the delay in filing the IT return. If return is belated, deduction under section 80-IC can't be allowed ,from assessment year 2006-07 on wards ,vide section 80C of the Income tax Act,1961.
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