M/S SWISS PARK VANIJYA INDIA PRIVATE LIMITED, MUMBAI V. ADIT,CPC, BENGALURU

ITA 162/CHNY/2022

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 9471 (ITAT-CHENNAI)
• Duration Of Justice: 5 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-09-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2019-2020
• Appeal Filed On: 13-03-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Depreciation; Revised return
• Section: 80IB; 143(1); 207; 208

Judgement Text

आयकर अपीलीय अिधकरण ‘ए’ Ɋायपीठ चेɄई मŐ। IN THE INCOME TAX APPELLATE TRIBUNAL ‘A’ BENCH, CHENNAI माननीय ŵी महावीर िसंह, उपाȯƗ एवं माननीय ŵी मनोज कु मार अŤवाल ,लेखा सद˟ के समƗ। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकर अपील सं./ ITA No.162/Chny/2022 (िनधाŊरण वषŊ / Assessment Year: 2019-20) M/s. Swiss Park Vanijya India Pvt. Ltd. 7/7A, Sumer Kendra,Pandurang Budhkar Marg Mumbai – 400 018. बनाम/ Vs. ADIT CPC, Bengaluru. ̾थायी लेखा सं./जीआइ आर सं./PAN/GIR No. AADCS-8061-K (अपीलाथŎ/Appellant) : (ŮȑथŎ / Respondent) अपीलाथŎ की ओरसे/ Appellant by : Shri Abhishek Kumar (CA) – Ld. AR ŮȑथŎ की ओरसे/Respondent by : Shri ARV Sreenivasan (Addl. CIT) –Ld. DR सुनवाई की तारीख/Date of Hearing : 07-09-2022 घोषणा की तारीख /Date of Pronouncement : 07-09-2022 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2019-20 arises out of the order of learned Commissioner of Income Tax (Appeals)-18, Chennai [CIT(A)] dated 13-01-2022 in the matter of an intimation issued by Centralized Processing Center (CPC), Bangalore u/s. 143(1) of the Act on 29-03-2021. The only grievance of the assessee is denial of deduction u/s 80-IA for want of uploading of requisite Form No.10CCB as required to claim this deduction. Having heard rival submissions, the appeal is disposed-off as under. ITA No.162/Chny/2022 - 2 - 2. The assessee is engaged in generation and distribution of electricity. The original return was filed on 31.10.2019 after claiming deduction u/s 80-IA for Rs.93.18 Lacs. However, the required Form No.10CCB was not field with this return of income. The assessee filed revised return of income on 22.11.2019 after having filed its Audit Report in Form 10CCB on 21.11.2019. This return was again revised on 20.10.2020 to make depreciation claim. The Centralized Processing Center (CPC) went on to process the latest return filed on 20.10.2020 and disallowed both the claims i.e., deduction u/s 80-IA as well as depreciation claim. 3. Though the assessee preferred further appeal, however, ld. CIT(A), in terms of Sec.80-IA(7), held that such form was to be furnished along with return of income within the due date. The notice was given by CPC about the defect. While making claim u/s 80-IA, the assessee was to take due care in filing the requisite documents. Upon combined reading of Sec.80A(5), 80AC, 80-IA(7), 139(9) and Rule 12(2), e-filing of Form No.10CCB is mandatory before due date u/s 139(1). Accordingly, the denial of deduction u/s 80-IA was upheld against which the assessee is in further appeal before us. 4. Upon careful consideration of factual matrix as enumerated in the preceding paragraphs, the undisputed position that emerges is that the assessee has made claim u/s 80-IA in the original return of income as well as in the revised return of income filed subsequently. The only reason to deny the deduction is the fact that the assessee did not upload Form No.10CCB along with original return of income and the same was filed along with revised return of income. We are of the considered opinion that the requirement of Section 80-IA are that the ITA No.162/Chny/2022 - 3 - accounts should have been audited and the assessee has to furnish the Audit Report in the prescribed form, along with the return of income. In the present case, the assessee has filed the Form No.10CCB along with revised return of income which has been processed by CPC, Bangalore. In such a case, the statutory requirement could be said to have been fulfilled by the assessee. 5. The Hon’ble High Court of Madras, in CIT V/s AKS Alloys (P.) Ltd. (18 Taxmann.com 25; 14-12-2011), held that the Audit Report in Form No.10CCB could have been filed before the assessment was completed. For the same, Hon’ble Court noted the decision of Hon’ble Karnataka High Court in CIT v. ACE Multitaxes Systems (P.) LTD. [2009] 317 ITR 207 (Kar.) wherein it was held that when a relief is sought for under Section 80IB of the Act, there is no obligation on the part of the assessee to file return accompanied by the audit report, thereby, holding that the same is not mandatory. Therefore, it is clear that before the assessment is completed if such report is filed, no fault could be found against the assessee. Similar was the view of Hon’ble Delhi High Court in the case in CIT v. Contimeters Electricals (P.) Ltd. [2009] 317 ITR 249 (Delhi), wherein the Delhi High Court, by following the judgments of the Madras High Court in CIT v. A.N. Arunachalam [1994] 208 ITR 481 and in CIT v. Jayant Patel [2001] 248 ITR 199 held that the filing of audit report along with the return was not mandatory but directory and that if the audit report was filed at any time before the framing of the assessment, the requirement of the provisions of the Act should be held to have been met. Similar was the view of High Court of Bombay in CIT v. Shivanand Electronics [1994] 209 ITR 63 as well as various other decisions. ITA No.162/Chny/2022 - 4 - 6. Considering the same, we would hold that the assessee was eligible to claim the deduction u/s 80-IA. We direct CPC, Bangalore to grant this deduction to the assessee. 7. The appeal stand allowed in terms of our above order. Order pronounced on 07 th September, 2022. Sd/- (MAHAVIR SINGH) उपाȯƗ /VICE PRESIDENT Sd/- (MANOJ KUMAR AGGARWAL) लेखा सद˟ / ACCOUNTANT MEMBER चेɄई / Chennai; िदनांक / Dated : 07-09-2022 EDN/- आदेश की Ůितिलिप अŤेिषत/Copy of the Order forwarded to : 1. अपीलाथȸ/Appellant 2. Ĥ×यथȸ/Respondent 3. आयकर आय ु Èत (अपील)/CIT(A) 4. आयकर आय ु Èत/CIT 5. ͪवभागीय ĤǓतǓनͬध/DR 6. गाड[ फाईल/GF