Sri Manoj Kumar Pachisia , Bangalore V. Assistant Commissioner of Income Tax Circle-6(3)(1), Bangalore

ITA 865/BANG/2018

• Counselvise Citation: [2018] 121 COUNSELVISE.COM (IT) 4739 (ITAT-BANGALORE)
• Duration Of Justice: 2 month(s) 11 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 01-06-2018
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2013-2014
• Appeal Filed On: 21-03-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: D K JHA CIT HEARD ON PRONOUNCE
• Keywords: Business income; Revised return

Judgement Text

ITA.865/BANG/2018 PAGE - 1 IN THE INCOME TAX APPELLATE TRIBUNAL BENGALURU BENCH 'C', BENGALURU BEFORE SHRI. A. K. GARODIA, ACCOUNTANT MEMBER AND SHRI. LALIET KUMAR, JUDICIAL MEMBER I.T.A NO.865/BANG/2018) (ASSESSMENT YEAR : 2013-14) SHRI. MANOJ KUMAR PACHISIA, 126, 2 ND FLOOR, SRI RANGA COMPLEX, ASWATHNAGAR, ABOVE CANARA BANK, BENGALURU 560094 .. APPELLANT PAN : AFXPP1835L V. ASST. COMMISSIONER OF INCOME-TAX, CIRCLE -6(3)(1), BENGALURU .. RESPONDENT ASSESSEE BY : SHRI. NARENDRA SHARMA, ADVOCATE REVENUE BY : SHRI. D. K. JHA, ADDL. CIT HEARD ON : 23.05.2018 PRONOUNCED ON : 01.06.2018 O R D E R PER LALIET KUMAR, JUDICIAL MEMBER : THE PRESENT APPEAL IS FILED BY THE ASSESSEE FEEING AGGRIEVED BY THE ORDER OF THE CIT (A), BENGALURU -4, BENGALUR U, DT.30.11.2017, FOR THE ASSESSMENT YEAR 2013-14, WHE REBY THE CIT (A) / AO HAS DENIED THE DEDUCTION U/S.80IC OF THE A CT, OF AN AMOUNT OF RS.4,50,663/-. ITA.865/BANG/2018 PAGE - 2 02. IT WAS THE CONTENTION OF THE ASSESSEE BEFORE US THAT IN THE PROCEEDINGS BEFORE THE AO THE ASSESSEE HAS FILED TH E REVISED FORM 10CCB ALONG WITH THE COVERING LETTER DT.19.03.2016, WHEREIN THE CORRECT FORM 10CCB WAS FILED. IN THIS REGARD OUR A TTENTION WAS DRAWN TO PAGES 22 AND 29 OF THE PAPER BOOK, WHERE T HE CORRECT FIGURES ARE MENTIONED IN FORM 10CCB. IT WAS THE CA SE OF THE ASSESSEE THAT IN THE EARLIER FORM 10CCB, THE TOTAL SALES WAS WRONGLY MENTIONED AS RS.3,21,36,081, WHEREAS THE TOTAL SALE S AS PER THE ASSESSEE WAS RS.3,22,32,081.42. HOWEVER, AT BOTH P LACES I.E., AT PAGE 14 AND PAGE AT PAGE 29, THERE IS NO CHANGE IN DEDUCTION CLAIMED U/S.80IC OF THE ACT. IT WAS THE CASE OF TH E ASSESSEE THAT IN THE ORIGINAL FORM 10CCB, THE ASSESSEE HAS WRONGLY M ENTIONED THE TOTAL SALES AS RS.3,21,36,081/-. HOWEVER WHEN IT C AME TO THE NOTICE OF THE ASSESSEE, IT IMMEDIATELY RECTIFIED THE MISTA KE AND FILED THE RECTIFIED FORM. THE ASSESSEE SUBMITTED THAT THE LO WER AUTHORITIES BY RELYING ON THE JUDGMENT OF THE HONBLE SUPREME COUR T IN GOETZ INDIA [284 ITR 323] HAVE NOT ENTERTAINED THE CORREC TED FORM 10CCB FILED, AND THEREFORE PRESENT APPEAL WAS FILLED BY T HE ASSESSEE . 03. THE LD. DR VEHEMENTLY OPPOSED THE APPEAL OF THE ASSESSEE AND RELIED UPON THE ORDER OF LOWER AUTHORITIES. 04. WE HAVE HEARD THE RIVAL CONTENTIONS AND PERUSED THE MATERIAL. ADMITTEDLY, AS PER THE CONTENTION OF THE ASSESSEE, BOTH THE ORIGINAL AS WELL AS THE REVISED FORM 10CCB WERE AVAILABLE WI TH THE AO. THERE IS NO CHANGE IN THE FIGURE OF DEDUCTION CLAIM ED U/S.80IC OF THE ACT. AT BOTH PLACE THE FIGURE OF RS.4,50,663/- REMAINS UNCHANGED. HOWEVER THE CIT (A) DENIED THE BENEFIT ON THE PRETEXT ITA.865/BANG/2018 PAGE - 3 THAT THE REVISED RETURN OF INCOME WAS NOT FILED AND FOR THAT THE CIT (A) RELIED ON THE JUDGMENT OF THE HONBLE APEX COUR T IN GOETZ INDIA (SUPRA). IN OUR VIEW, THE LAW LAID DOWN BY T HE HONBLE SUPREME COURT, DO NOT PERMIT THE AO TO ENTERTAIN TH E REVISED RETURN OF INCOME OR THE REVISED FORM 10CCB. HOWEVER THAT DOES NOT WITHHOLD OR PREVENT THE CIT (A) OR THE TRIBUNAL TO TAKE INTO ACCOUNT THE CORRECTED COPY OF THE COMPUTATION IN FORM 10CCB AS WELL AS THE REVISED RETURN. IT IS THE BOUNDEN DUTY OF THE CIT (A) TO TAKE A DECISION RELYING ON THE SUBSEQUENTLY FILED REVISED FORM 10CCB. NEEDFUL HAS NOT BEEN DONE AND THERE IS NO DISPUTE T HAT THE ASSESSEE WAS ENTITLED TO DEDUCTION U/S.80IC TO THE EXTENT OF RS.4,50,663/-. HOWEVER THE ASSESSEE WAS ONLY DENIED THIS DEDUCTION RELYING UPON THE DECISION OF HONBLE SUPREME COURT IN GOETZ (SUP RA). AS WE HAVE HELD THAT THE JUDGMENT IN GOTEZ INDIA (SUPRA) IS NOT APPLICABLE TO THE FACTS OF THE CASE AND IS NOT A IMPEDIMENT I N EXERCISING THE POWER UNDER THE ACT BY THE CIT (A) OR THE TRIBUNAL. THEREFORE, IN THE LIGHT OF THE ABOVE, WE HOLD THAT THE ASSESSEE I S ENTITLED TO DEDUCTION U/S.80IC OF THE ACT. 04. IN THE RESULT, APPEAL OF THE ASSESSEE IS ALLOWE D. ORDER PRONOUNCED IN THE OPEN COURT ON 1ST DAY OF JU NE, 2018. SD/- SD/- (A. K. GARODIA) (LALIET KUMAR) ACCOUNTANT MEMBER JUDICIAL MEMBE R BENGALURU DATED : 01.06.2018 MCN* ITA.865/BANG/2018 PAGE - 4 COPY TO: 1. THE ASSESSEE 2. THE ASSESSING OFFICER 3. THE COMMISSIONER OF INCOME-TAX 4. COMMISSIONER OF INCOME-TAX(A) 5. DR 6. GF, ITAT, BANGALORE BY ORDER SENIOR PRIVATE SECRETARY, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.