Minda Management Services Ltd, New Delhi V. DCIT, Circle-16(2), New Delhi

ITA 227/DEL/2019

• Counselvise Citation: [2022] 106 COUNSELVISE.COM (IT) 9440 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 7 month(s) 26 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 06-09-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: E
• Assessment Year: 2014-2015
• Appeal Filed On: 10-01-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 154

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘E’, NEW DELHI BEFORE SH. N. K. BILLAIYA, ACCOUNTANT MEMBER AND SH. KUL BHARAT, JUDICIAL MEMBER ITA No.227/Del/2019 Assessment Year: 2014-15 Minda Management Services Ltd. A-15, Ashok Vihar, Phase-1, New Delhi- 110052 PAN No.AAECM9469N Vs DCIT Circle -16 (2) New Delhi (APPELLANT) (RESPONDENT) Appellant Dr. Rakesh Gupta, Advocate Sh. Shrey Jain, Advocate Respondent Sh. Jeetender Chand, Sr. DR Date of hearing: 07.09.2022 Date of Pronouncement: 07.09.2022 ORDER PER N.K. BILLAIYA, AM: This appeal by the assessee is preferred against the order of the CIT(A)-6, Delhi dated 30.10.2018 for A.Y.2014-15. 2. The sum and substance of the grievance of the assessee is that the CIT(A) erred in confirming the action of the AO in not allowing the set off of brought forward losses of Rs.65,04,950/- for A.Y. 2013-14 against the assessed income for A.Y. 2014-15 of 2 Rs.3,57,08,911/-. 3. Briefly stated the facts of the case are that while scrutinising the return of income for A.Y.2014-15 the AO computed the assessed income as under :- 4. After computing the assessed income as above the AO noted as under :- 5. The assessee moved an application for the rectification of the assessment u/s. 154 of the Act which was disposed of by the AO without making any changes in the assessment order dated 27.12.2016. The relevant part of the order read as under :- 3 6. Assessee carried the matter before the CIT(A) but without any success. 7. Before us the Counsel for the assessee brought to our notice the assessment order for A.Y.2013-14 and pointed out the assessed loss computed by the AO. It is the say of the Counsel that the AO was bound to allow the set off of the assessed loss even if the same was not claimed in the return of income but claimed before the completion of the assessment proceedings. 8. The DR strongly supported the findings of the AO. 9. We have given a thoughtful consideration to the orders of the authorities below. We find that by order dated 27.12.2016 framed u/s 143 (3) r.w.s. 92 CA (3) of the Act the AO computed the assessed loss at Rs. 65,049950/-. There is no dispute in so far as the filing of return of income on or before the due date is concerned. The only reason the AO gave for not allowing the set off of the brought forward losses is that the assessee did not claim in the return of income. 10. In our considered opinion the AO ought to have considered the assessment order for A.Y.2013-14 and ought to have allowed the set off of losses assessed there in. In the interest of justice and fair play we restore this issue to the files of the AO. The AO 4 is directed to verify the assessed loss for A.Y.2013-14 and if found correct allow the set off of the same as per the provisions of the law. 11. In the result, the appeal filed by the assessee is treated as allowed for statistical purpose. 12. Decision announced in the open court on 07.09.2022. Sd/- Sd/- (KUL BHARAT) (N. K. BILLAIYA) JUDICIAL MEMBER ACCOUNTANT MEMBER *NEHA, Sr. Private Secretary* Date:- .09.2022 Copy forwarded to: 1. Appellant 2. Respondent 3. CIT 4. CIT(Appeals) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI 5 Date of dictation 07.09.2022 Date on which the typed draft is placed before the dictating Member 12.09.2022 Date on which the typed draft is placed before the Other member 12.09.2022 Date on which the approved draft comes to the Sr.PS/PS 19.09.2022 Date on which the fair order is placed before the Dictating Member for Pronouncement 19.09.2022 Date on which the fair order comes back to the Sr. PS/ PS 19.09.2022 Date on which the final order is uploaded on the website of ITAT 19.09.2022 Date on which the file goes to the Bench Clerk 19.09.2022 Date on which file goes to the Head Clerk. The date on which file goes to the Assistant Registrar for signature on the order Date of dispatch of the Order