Sri Bhavani Jewels & Gems (India) Private Limited , Hyderabad V. Deputy Commissioner OF Income Tax Circle-3(2), Hyderabad

ITA 736/Hyd/2020

• Counselvise Citation: [2021] 107 COUNSELVISE.COM (IT) 2463 (ITAT-HYDERABAD)
• Duration Of Justice: 10 month(s) 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-10-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-B
• Next Hearing Date: 04-10-2021
• Assessment Year: 2018-2019
• Appeal Filed On: 01-12-2020
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: SHIKHA MANTRI ARS
• Section: 43B

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCHES B : HYDERABAD (THROUGH VIDEO CONFERENCE) BEFORE SHRI S.S.GODARA, JUDICIAL MEMBER AND SHRI LAXMI PRASAD SAHU, ACCOUNTANT MEMBER I.T.A. NOS.736 & 737/HYD/2020 ASSESSMENT YEARS: 2018-19 & 2019-20 SRI BHAVANI JEWELS & GEMS (INDIA) PRIVATE LTD, HYDERABAD [PAN: AANCS8254J] VS DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE-3(2), HYDERABAD (APPELLANT) (RESPONDENT) FOR ASSESSEE : SHRI SIDDHARTH MANTRI & SHRI SHIKHA MANTRI, ARS FOR REVENUE : SHRI WASEEM UR REHMAN, DR DATE OF HEARING : 04-10-2021 DATE OF PRONOUNCEMENT : 28-10-2021 O R D E R PER S.S.GODARA, J.M. : THESE TWO ASSESSEES APPEALS FOR AYS.2018-19 & 2019 -20 ARISE FROM THE CIT(A)-3, HYDERABADS ORDER(S) DATED 2 1-09- 2020 PASSED IN CASE NOS.10005 & 10039 / 2020-21 / C / CIT(A)-3, INVOLVING PROCEEDINGS U/S.143(1) & U/S.15 4 OF THE INCOME TAX ACT, 1961 [IN SHORT, THE ACT]; RESPECTIVELY . HEARD BOTH THE PARTIES. CASE FILES PERUSED. 2. IT TRANSPIRES AT THE OUTSET THAT BOTH THE ASSESSEES APPEALS SUFFER FROM DELAY OF THREE DAYS, STATED TO BE ATTRIBUTABLE TO THE REASON(S) BEYOND ITS CONTROL AS PER CONDONATION PETITION/AFFIDAVIT. NO REBUTTAL HAS COME FROM THE DEPARTMENTAL SIDE. THE IMPUGNED DELAY IS CONDONED THER EFORE. ITA NOS. 736 & 737/HYD/2020 :- 2 -: 3. THE ASSESSEES IDENTICAL SOLE SUBSTANTIVE GROUND IN BOTH OF THESE APPEALS CHALLENGES CORRECTNESS OF THE LOWER AUTHORITIES ACTION MAKING DISALLOWANCE OF RS.2,17,2 55/- AND RS.1,77,800/-, ASSESSMENT YEAR-WISE; RESPECTIVELY U/ S.36(VA) R.W.S.43B OF THE ACT. THE ASSESSEES AND REVENUES PLEAS BEFORE US ARE THAT THE SAME HAS BEEN PAID BEFORE THE DUE DATE O F FILING SEC.139(1) RETURN AND AFTER THE DUE DATE PRESCRI BED IN THE CORRESPONDING STATUTES; RESPECTIVELY. WE NOTICE IN TH IS FACTUAL BACKDROP THAT THE LEGISLATURE HAS NOT ONLY INCORP ORATED NECESSARY AMENDMENT IN SECTIONS 36(1)(VA) AS WELL AS U/S. 43B VIDE FINANCE ACT, 2021 TO THIS EFFECT BUT ALSO THE C BDT HAS ISSUED MEMORANDUM OF EXPLANATION THAT THE SAME APP LIES W.E.F. 01-04-2021 ONLY. IT IS FURTHER NOT AN ISSUE THAT THE FOREGOING LEGISLATIVE AMENDMENTS HAVE PROPOSED EMPLO YERS CONTRIBUTION/DISALLOWANCE U/S.43B AS AGAINST EMPLOYEE S CONTRIBUTION U/S.36(VA) OF THE ACT; RESPECTIVELY. HOWEVE R, KEEPING IN MIND THE FACT THAT THE SAME HAS BEEN CLARIFIE D TO BE APPLICABLE ONLY WITH PROSPECTIVE EFFECT FROM 01-04-20 21 ONLY, WE HOLD THAT THE IMPUGNED DISALLOWANCE IS NOT SUSTAINAB LE IN VIEW OF ALL THESE LATEST DEVELOPMENTS. THIS IDENTICAL DISALLOWANCE STANDS DELETED ACCORDINGLY. NO OTHER GROUND HAS BEEN PRESSED BEFORE US. 4. THESE ASSESSEES TWIN APPEALS ARE ALLOWED IN ABO VE TERMS. A COPY OF THIS COMMON ORDER BE PLACED IN THE R ESPECTIVE CASE FILES. ORDER PRONOUNCED IN THE OPEN COURT ON 28 TH OCTOBER, 2021 SD/- SD/- (LAXMI PRASAD SAHU) (S.S.G ODARA) ACCOUNTANT MEMBER JUDICIAL MEM BER HYDERABAD, DATED: 28-10-2021 TNMM ITA NOS. 736 & 737/HYD/2020 :- 3 -: COPY TO : 1.SRI BHAVANI JEWELS & GEMS (INDIA) PRIVATE LTD., 3-6-365/C, PAVANI ESTATES, HIMAYAT NAGAR, HYDERABAD . 2.THE DY.COMMISSIONER OF INCOME TAX, CIRCLE-3(2), HYDERABAD. 3.CIT(APPEALS)-3, HYDERABAD. 4.PR.CIT-1, HYDERABAD. 5.D.R. ITAT, HYDERABAD. 6.GUARD FILE.