Mani Omega Granites Pvt Ltd., CHENNAI V. ITO, CHENNAI

ITA 2073/CHNY/2015

• Counselvise Citation: [2019] 116 COUNSELVISE.COM (IT) 7419 (ITAT-CHENNAI)
• Duration Of Justice: 3 year(s) 8 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-07-2019
• Appeal Filed By: Assessee
• Order Result: Partly Allowed
• Bench Allotted: C
• Assessment Year: 2010-2011
• Appeal Filed On: 26-10-2015
• Result in Favour of: Partly Allowed
• Court: TRIBUNAL
• Department Lawyers: R CLEMENT RAMESH KUMAR
• Assessee Lawyers: G G PRABHAKARANC A

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH: CHENNAI , , ' BEFORE SHRI GEORGE MATHAN , JUDICIAL MEMBER AND SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER ./ ITA NO.2073/CHNY/2015 /ASSESSMENT YEAR: 2010-11 M/S.MANI OMEGA GRANITES PVT LTD., 63,ELLAI AMMAN COLONY, I CROSS STREET,TEYNAMPET, CHENNAI 600 086. VS. INCOME TAX OFFICER, COMPANY WARD IV(1) CHENNAI 600 034. [ PAN: AABCM 9899 G ] ( ) /APPELLANT) ( *+) /RESPONDENT) ) , / APPELLANT BY : MR.G.G.PRABHAKARAN,C.A *+) , /RESPONDENT BY : MR.R.CLEMENT RAMESH KUMAR, ADDL. C.I.T D.R , /DATE OF HEARING : 22.07.2019 , /DATE OF PRONOUNCEMENT : 22.07.2019 / O R D E R PER GEORGE MATHAN, JUDICIAL MEMBER : THIS IS AN APPEAL FILED BY THE ASSESSEE AGAINST THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS)-8 , CHENNAI, I N ITA NO.35/2012-13 DATED 31.08.2015 FOR THE AY 2010-11. ITA NO.2073/CHNY/2015 :- 2 -: 2. MR. G.G.PRABHAKARAN, REPRESENTED ON BEHALF OF TH E ASSESSEE AND MR.CLEMENT RAMESH KUMAR REPRESENTED ON BEHALF O F THE REVENUE. 3. THE LD.AR SUBMITTED THAT GROUNDS NOS.2 TO 4, TH E ASSESSEE HAS CHALLENGED THE ACTION OF LD.CIT(A) IN CONFIRMING TH E ACTION OF THE ASSESSING OFFICER IN DENYING BENEFIT OF DEDUCTION U /S.10B OF THE ACT TO THE ASSESSEE. IT WAS A FURTHER SUBMISSION THAT GROUNDS NOS.5 TO 7 IN RESPECT OF DISALLOWANCE OF CLAIM OF BAD DEBT A MOUNTING TO RS.10,20,000/-. LD.AR SUBMITTED THAT ASSESSEE DID NOT WISH TO PRESS GROUND NOS.5 TO 7 IN RESPECT OF BAD DEBT AND THE LD.AR HAS ALSO MADE ENDORSEMENTS TO THIS EFFECT. CONSEQUENTLY , GROUNDS NOS.5 TO 7 STAND DISMISSED AS NOT PRESSED. 4. IN RESPECT OF GROUNDS NOS.2 TO 4, IT WAS SUBMIT TED BY LD.AR THAT ASSESSEES CLAIM FOR DEDUCTION U/S.10B OF THE A CT HAD BEEN DENIED BY THE ASSESSING OFFICER ON GROUND THAT THE RETURN FILED BY THE ASSESSEE WAS NOT RETURN U/S.139(1) OF THE ACT IN SO FAR AS THE RETURN HAD BEEN FILED ON 02.12.2010. IT WAS A SUBM ISSION THAT THE ASSESSEE HAD APPROACHED THE CBDT AND CBDT HAD VIDE ORDER U/S.119(2)(B) OF THE ACT DATED 03.12.2018 IN F.NO.1 97/31/2016- ITA-1 CONDONED THE DELAY IN FILING OF THE RETURN FO R THE ASSESSMENT ITA NO.2073/CHNY/2015 :- 3 -: YEAR 2010-11 AND HAD AUTHORIZED THE JURISDICTION IN COME TAX AUTHORITIES TO ADMIT THE RETURN OF INCOME FOR THE A SSESSMENT YEAR 2010-11 FILED ON 02.12.2010 AS A RETURN FILED BY TH E DUE DATE U/S.139(1) OF THE ACT. LD.AR DREW OUR ATTENTION TO PAGE-28 OF THE PAPER BOOK WHEREIN THE SAID ORDER OF THE CBDT WAS EN CLOSED. IT WAS A PRAYER THAT THE CBDT HAVING CONDONED THE DELAY AND RETURN FILED BY THE ASSESSEE HAVING BEEN TREATED AS FILED U/S.13 9(1) OF THE ACT, THE ASSESSEE MAY BE GRANTED THE CLAIM OF DEDUCTION U/S.10B OF THE ACT. 5. IN REPLY, THE LD.DR SUBMITTED THAT HE HAS NO OB JECTION, IF THE ISSUE OF CLAIM U/S.10B OF THE ACT IS RESTORED TO THE FILE OF ASSESSING OFFICER FOR RE-ADJUDICATION ON MERITS. 6. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL AVAILABLE ON RECORD. A PERUSAL OF THE ORDER PASSED BY THE CBDT SHOWS THAT THE CBDT HAS CONDONED THE DELAY IN FILING OF THE RETURN AND HAS TREATED THE RETURN FILED BY THE ASSESSEE FO R THE ASSESSMENT YEAR 2010-11 FILED ON 02.12.2010 AS A RETURN FILED BY THE DUE DATE U/S.139(1) OF THE ACT. THE CBDT HAS SPECIFICALLY HE LD THAT THE ISSUE OF THE DEDUCTION IN RESPECT OF THE RETURN IS ALLOWA BLE IS TO BE CONSIDERED ON MERITS BY THE ASSESSING OFFICER. THI S BEING SO, THE ITA NO.2073/CHNY/2015 :- 4 -: ISSUE IN THIS APPEAL IN RESPECT OF CLAIM OF DEDUCTI ON U/S.10B OF THE ACT IS RESTORED TO THE FILE OF ASSESSING OFFICER FO R ADJUDICATION ON MERITS. 7. IN THE RESULT, THE APPEAL OF ASSESSEE IS PARTLY ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED ON THE 22 ND JULY, 2019 IN CHENNAI. SD/- SD/- ( ) ( INTURI RAMA RAO ) /ACCOUNTANT MEMBER ( ) (GEORGE MATHAN) /JUDICIAL MEMBER /CHENNAI, 3 /DATED: 22 ND JULY, 2019. K S SUNDARAM , *45 65 /COPY TO: 1. ) /APPELLANT 4. 7 /CIT 2. *+) /RESPONDENT 5. 5 * /DR 3. 7 ( ) /CIT(A) 6. /GF