ARMSTRONG SPINNING MILLS PVT LTD , TIRUPUR V. ADIT , CENTRALIZED PROCESSING CENTRE, BANGALORE

ITA 602/CHNY/2022

AI Insights

The case involves M/s. Armstrong Spinning Mills Pvt. Ltd., the appellant, contesting the denial of a deduction under section 80IA of the Income Tax Act for the Assessment Year 2018-19. The deduction was initially denied by the Centralized Processing Centre (CPC), Bangalore, because Form 10CCB was not filed along with the income tax return, although it was filed the next day. The tribunal referenced the Supreme Court's decision in CIT Vs. G.M. Knitting Industries (P) Ltd. and similar cases to support the appellant's position that the timing of the Form 10CCB submission, as long as it precedes the final assessment order, should not affect the eligibility for the deduction.

• Counselvise Citation: [2023] 140 COUNSELVISE.COM (IT) 134031 (ITAT-CHENNAI)
• Duration Of Justice: 6 month(s) 12 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-01-2023
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Next Hearing Date: 29-01-2023
• Assessment Year: 2018-2019
• Appeal Filed On: 17-07-2022
• Other Referred Cases: CIT Vs. G.M. Knitting Industries (P) Ltd., M/s. Roopa Steam Calendering Works Vs. DCIT, M/s Anugraha Fashion Mill Pvt. Ltd. Vs. DCIT
• Laws Referred To: Income Tax Act
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: H.YESHWANTH KUMAR C.A LD
• Section: 143(1); 80IA

Judgement Text

आयकर अपीलीय अिधकरण ‘सी’ ायपीठ चे ई म । IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH, CHENNAI माननीय +ी महावीर िसंह, उपा01 एवं माननीय +ी मनोज कु मार अ6वाल ,लेखा सद9 के सम1। BEFORE HON’BLE SHRI MAHAVIR SINGH, VICE PRESIDENT AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपीलसं./ITA No.602/Chny/2022 (िनधाBरणवषB / Assessment Year: 2018-19) M/s. Armstrong Spinning Mills Pvt. Ltd. No.61-C Saminathapuram 2 nd Street, Anupparpalayam,Tirupur-641 652. बनाम/ V s. The Assistant Director of Income Tax, Centralized Processing Centre, Bengaluru-560 500. थायीलेखासं./जीआइआरसं./P AN /GI R No. AAC C A- 5 1 2 9 -P (अपीलाथ /Appellant) : ( थ / Respondent) अपीलाथ कीओरसे/ Assessee by : Shri H.Yeshwanth kumar (C.A) – Ld. AR थ कीओरसे/Revenue by : Shri M.Rajan (CIT) – Ld. Sr. DR सुनवाईकीतारीख/Date of Hearing : 30-01-2023 घोषणाकीतारीख /Date of Pronouncement : 30-01-2023 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member) 1. Aforesaid appeal by assessee for Assessment Year (AY) 2018-19 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC) [in short ‘CIT(A)’] dated 23-05-2022 in the matter of an intimation issued by Centralized Processing Centre (CPC), Bangalore u/s 143(1) vide order dated 21.02.2020. The sole grievance of the assessee is denial of deduction u/s. 80IA due to the fact that Form 10CCB was not field along with return ITA No.602/Chny/2022 - 2 - of income. Admittedly, the return of income was filed on 31.10.2018 whereas Form 10CCB was filed on next day i.e., 01.11.2018. 2. It emerges that the issue stand covered in assessee’s favor by the decision of Hon'ble Supreme Court in the case of CIT Vs. G.M. Knitting Industries (P) Ltd. (2016) 71 taxmann.com 35 (SC) dated 24-07- 2015 which has been followed by co-ordinate benches of this Tribunal in M/s. Roopa Steam Calendering Works Vs. DCIT (ITA No.284/Chny/2022 dated 18-08-2022) as well as in M/s Anugraha Fashion Mill Pvt. Ltd. Vs. DCIT (ITA Nos.883 & 865/Chny/2020 dated 21-12-2022) to hold that the deduction could not be denied if Form 10CCB was filed before final order of assessment was made. Respectfully following the same, we direct Ld. AO to allow impugned deduction. 3. The Ld. CIT-DR has pointed out that the figures as mentioned in Form 10CCB do not matches with the claim of the assessee. To dispel the same, we direct Ld. AO to verify the fact that the claim made by the assessee is duly supported by the claim worked out in Form 10CCB. 4. In the result, the appeal stand allowed in terms of our above order. Order pronounced on 30 th January, 2023. Sd/- (MAHAVIR SINGH) उपा01 /VICE PRESIDENT Sd/- (MANOJ KUMAR AGGARWAL) लेखा सद9 / ACCOUNTANT MEMBER चे*ई / Chennai; िदनांक / Dated : 30-01-2023 DS आदेश की Xितिलिप अ 6ेिषत/Copy of the Order forwarded to : 1. अपीलाथ /Appellant 2. थ /Respondent 3. आयकर आयु3 (अपील)/CIT(A) 4. आयकर आयु3/CIT 5. िवभागीय ितिनिध/DR 6. गाड8 फाईल/GF