IF Function Returning False

Hi All,

I have set out a workbook which illustrates the issue. I have a basic IF Formula, however, the negative outcome is returning "FALSE" instead of next. Please help (See Cell K20 in the workbook).

=IF(AND($A12="",$B12="",$C12=""),"",IF(AND($A12<>"",$B12="",$C12=""),IF(OR(AND($A12<E$5+7,$A12>E$5),E$5=$A12),"Budget","NEXT")))

Thank you in advance