TVS Srichakra Limited, Madurai V. DCIT, Madurai

ITA 3088/CHNY/2019

• Counselvise Citation: [2022] 105 COUNSELVISE.COM (IT) 5320 (ITAT-CHENNAI)
• Duration Of Justice: 2 year(s) 4 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 03-04-2022
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: A
• Assessment Year: 2012-2013
• Appeal Filed On: 06-11-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Reasonable cause

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 आयकरअपीलसं./ITA Nos. 3088 & 3089/Chny/2019 (िनधाŊरणवषŊ / Assessment Years: 2012-13 & 2013-14) M/s. TVS Srichakra Limited 7-b, TVS Building West Veli Street, Madurai 625 001. बनाम/ Vs. DCIT Corporate Circle 2, Madurai. ̾थायीलेखासं./जीआइआरसं./PAN/GIR No. AAACT-5557-G (अपीलाथŎ/Appellant) : (ŮȑथŎ / Respondent) अपीलाथŎकीओरसे/ Appellant by : Ms. N.V. Lakshmi (Advocate) – Ld. AR ŮȑथŎकीओरसे/Respondent by : Mr. ARV Sreenivasan (Addl. CIT) – Ld. DR सुनवाईकीतारीख/ Date of Hearing : 04-04-2022 घोषणाकीतारीख / Date of Pronouncement : 04-04-2022 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeals by assessee for Assessment Years (AY) 2012- 13 & 2013-14 arises out of the separate orders passed by learned Commissioner of Income Tax (Appeals)-1, Madurai [CIT(A)] dated 28- 03-2018. However, the facts as well as the issues in both the appeals are same i.e., denial of deduction u/s 35(2AB) for want of Form No.3CM. ITA Nos.3088 & 3089/Chny/2019 - 2 - 2. The Registry has noted a delay 506 days in the appeals, the condonation of which has been sought by the assessee on the strength of condonation petition which is accompanied by affidavit of the Managing Director of the assessee company. The Ld. AR submitted that the deduction u/s 35(2AB) was disallowed for want of Form No.3CM though the assessee had already filed application in Form No.3CK. The assessee preferred further appeal against the assessment order wherein the stand of Ld. AO was confirmed. Upon advice, the assessee filed Writ of Mandamus before Hon’ble High Court for obtaining the approval of DSIR. The assessee did not prefer further appeal against first appellate order under the impression that the assessee would get relief once the Writ is disposed-off. However, based on professional advice, the assessee has filed appeal before Tribunal with a delay of 506 days. The Ld. AR submitted that delay was neither willful nor wanton and it was under bona-fide belief as aforesaid. Though Ld. Sr. DR opposed condonation of delay, however, going by the pleadings of Ld. AR, we form an opinion that the assessee has reasonable cause for late filing of the appeals. Otherwise also, the non-condonation of delay would frustrate the outcome of Writ Proceedings as allowed by Hon’ble High Court. Therefore, we condone the delay and proceed for adjudication of the same on merits. 3. The Ld. AR placed on record copy of Form No.3CM which is dated 14.09.2021. The Ld. AR submitted that the deduction u/s 35(2AB) was denied since this form could not be produced by the assessee before lower authorities. The Ld. Sr. DR submitted that the same may be sent to Ld. AO for verification etc. ITA Nos.3088 & 3089/Chny/2019 - 3 - 4. Concurring with the submissions made before us, we remit the issue of deduction u/s 35(2AB), for both the years, for quantification and re-adjudication by Ld. AO. The assessee is directed to file requisite detils / information. 5. The appeal stands allowed for statistical purposes. Order pronounced on 04 th April, 2022. Sd/- (MAHAVIR SINGH) उपाȯƗ /VICE PRESIDENT Sd/- (MANOJ KUMAR AGGARWAL) लेखा सद˟ /ACCOUNTANT MEMBER चेɄई/ Chennai; िदनांक/ Dated : 04-04-2022 JPV आदेशकीŮितिलिपअŤेिषत/Copy of the Order forwarded to : 1. अपीलाथᱮ/Appellant 2. ᮧ᭜यथᱮ/Respondent 3. आयकरआयुᲦ (अपील)/CIT(A) 4. आयकरआयुᲦ/CIT 5. िवभागीयᮧितिनिध/DR 6. गाडᭅफाईल/GF