Deduction u/s 80AC of the Income Tax Act, 1961 (Urgent reply

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Sameer Bhatia (Querist)
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05 December 2008 Are provisions of section 80AC of the Income Tax Act, 1961 mandatory in its application. Is so can the department waive of the disallowance of said deduction (in case the return if filed after the due date of filing return u/s 139(1) of the Income Tax Act, 1961 ? if answer to the above said question is in affirmative then what basis can be taken for availing waiver of such disallowance.

(CAN THE NEGLIGENCE OF THE CHARTERED ACCOUNTANT BE PLEADED AS A MODE OF WAIVING OF THE SAID DISALLOWANCE). PLEASE QUOTE ANY CITATIONS (OF ANY JURISDICTIONAL HIGH COURT IN INDIA PREFERBLY OF SUPREME COURT) - URGENT REPLY NEEDED. .

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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05 December 2008 Mandatory.
Department can't waive.
No basis for waiver from disallowance.

(Negligence of the counsel is a valid ground for appeals in general. But in the case of mandatory provisions fate of the appeal on the referred ground is doubtful)

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