DATAMINDS TECHNOLOGY LLP, MUMBAI V. ITO 32(1)(1), MUMBAI

ITA 2287/MUM/2022

• Counselvise Citation: [2022] 103 COUNSELVISE.COM (IT) 9669 (ITAT-MUMBAI)
• Duration Of Justice: 1 month(s) 15 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 26-10-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Next Hearing Date: 26-10-2022
• Assessment Year: 2018-2019
• Appeal Filed On: 11-09-2022
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Business income

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, ‘SMC‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER ITA No.2287/Mum/2022 (Asse ssment Year :2018-19) M/s. Dataminds Technology LLP A-203, Suchita Enclave Maharashtra Nagar Borivali (W) Mumbai – 400 092 Vs. ITO 32(1)(1) Mumbai G-Block, BKC Bandra East Mumbai – 400 051 PAN/GIR No.AAMFD2284K (Appellant) .. (Respondent) Assessee by None Revenue by Shri Pratap Sharma Date of Hearing 27/10/2022 Date of Pronouncement 27/10/2022 आदेश / O R D E R PER M. BALAGANESH (A.M): This appeal in ITA No.2287/Mum/2022 for A.Y.2018-19 arises out of the order by the ld. Commissioner of Income Tax (Appeals) National Faceless Appeal Centre (NFAC) in appeal No.CIT(A)-44, Mumbai/10219/2019-20 dated 12/03/2022 (ld. CIT(A) in short) against the order of assessment passed u/s.143(3) of the Income Tax Act, 1961 (hereinafter referred to as Act) dated 15/07/2019 by the ld. Dy. Commissioner of Income Tax, CPC (hereinafter referred to as ld. AO). 2. At the outset, the appeal is time barred by 124 days. The assessee had explained the reasons for the said delay vide condonation petition dated 01/09/2022. I am convinced with the said reason and condone the ITA No.2287/Mum/2022 M/s. Dataminds Technologies LLP 2 delay in filing of appeal and admit the appeal of the assessee for adjudication. 3. The only issue to be decided in this appeal is as to whether the ld. CIT(A) was justified in confirming the disallowance of set off of brought forward losses of A.Yrs. 2010-11 to 2014-15 against the business income of A.Y.2018-19. 4. None appeared on behalf of the assessee. I have heard the ld. DR and perused the materials available on record. I find that assessee has sought to set off the brought forward business losses of A.Yrs. 2010-11 to 2014-15 amounting to Rs.37,506/- against the business income of Rs.54,697/- in A.Y.2018-19. I find from para 4.1 of the order of ld. CIT(A) (NFAC), the non-eligibility of set off of loss pertaining to A.Y.2009-10 alone has been discussed as it had lapsed in A.Y.2017-18. Absolutely no finding has been given by the ld. CIT(A) (NFAC) with regard to eligibility of set off of brought forward losses of A.Yrs. 2010-11 to 2014-15 against the current year business income. Hence, I deem it fit and appropriate to remand this issue to the file of the ld. CIT(A) to give proper finding with regard to this aspect in accordance with law. Accordingly, the ground raised by the assessee is allowed for statistical purposes. 5. In the result, appeal of the assessee is allowed for statistical purposes. Order pronounced in open Court on 27/10/2022 Sd/- (M.BALAGANESH) ACCOUNTANT MEMBER Mumbai; Dated 27/10/2022 ITA No.2287/Mum/2022 M/s. Dataminds Technologies LLP 3 KARUNA, sr.ps Copy of the Order forwarded to : BY ORDER, (Sr. Private Secretary / Asstt. Registrar) ITAT, Mumbai 1. The Appellant 2. The Respondent. 3. The CIT(A), Mumbai. 4. CIT 5. DR, ITAT, Mumbai 6. Guard file. //True Copy//