M/s. K L S E H Co-operative Society Ltd., Bangalore V. Assistant Commissioner of Income-Tax, Centralized Processing Centre, Bengaluru

ITA 300/BANG/2023

• Counselvise Citation: [2023] 102 COUNSELVISE.COM (IT) 6777 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 29 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-07-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Next Hearing Date: 10-07-2023
• Assessment Year: 2019-2020
• Appeal Filed On: 12-04-2023
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Section: 139(1)

Judgement Text

ITA Nos.297 to 300/Bang/2023 Page 3 of 4 submitted that in the interest of justice and equity, the matter may be restored to the CIT(A) for furnishing of the tax audit report for the Assessment Years 2016-17 to 2018-19 for which years there were losses available for carry forward and set off. 6. The learned DR supported the orders of the CIT(A). 7. We have heard the rival submissions and perused the material on record. The solitary reason for not allowing carry forward of losses is on account of not filing the returns of income for Assessment Years 2016-17 to 2019-20 within the due date prescribed under section 139(1) of the Act. Assessee submitted that its case pertaining to filing of tax audit reports is governed by extended time limit and within such extended time the assessee had filed the return of income. We notice the CIT(A) has passed ex-parte order. Assessee had furnished the tax audit report for Assessment Year 2019-20 by mistakenly noting only the notice for furnishing the written submissions for above mentioned Assessment Year. In the interest of justice and equity, we are of the view that one more opportunity ought to be granted to the assessee to furnish the tax audit report pertaining to Assessment Years 2016-17, 2017-18 and 2018-19 to show that assessee’s case pertain to submission of audit report and assessee has filed the return of income within the time limit specified under section 139(1) of the Act. For above said purposes, the issue raised in these appeals are restored to the file of the CIT(A). The assessee is directed to co-operate with the Revenue and shall furnish the necessary details in support of its claim. It is ordered accordingly. ITA Nos.297 to 300/Bang/2023 Page 4 of 4 8. In the result, the appeals filed by the assessee are allowed for statistical purposes. Pronounced in the open court on the date mentioned on the caption page. Sd/- Sd/- (LAXMI PRASAD SAHU)(GEORGE GEORGE K) Accountant Member Vice President Bangalore. Dated: 12.07.2023. /NS/* Copy to: 1.Appellants2.Respondent 3.CIT4.CIT(A) 5.DR, ITAT, Bangalore.6.Guard file By order Assistant Registrar, ITAT, Bangalore.