KEDIA OVERSEAS PRIVATE LIMITED,HYDERABAD V. DCIT., CIRCLE-2(1), HYDERABAD

ITA 1081/HYD/2024

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M/s. Kedia Overseas Pvt. Ltd., Hyderabad, appealed against the order of the Learned Addl./JCIT (A), Mysore, which denied them the benefit under section 115BAA of the Income Tax Act, 1961, for the Assessment Year 2021-22. The denial was based on the non-filing of Form no.10 IC within the specified due date. The assessee's appeal was initially unsuccessful, leading to the current appeal before the Income Tax Appellate Tribunal. The Tribunal noted that a recent CBDT circular had extended the due date for filing the form, a fact not considered by the Learned Addl./JCIT (A) in the original decision. Consequently, the Tribunal remanded the matter for re-evaluation in light of the new circular.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 472714 (ITAT-HYDERABAD)
• Duration Of Justice: 27 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-11-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SM-B
• Next Hearing Date: 12-11-2024
• Assessment Year: 2021-2022
• Appeal Filed On: 17-10-2024
• Laws Referred To: Income Tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: M. NAVEEN KUMAR
• Assessee Lawyers: S. SANDHYA
• Keywords: Opportunity of being heard

Judgement Text

" आआआआ आआआआआआ आआआआआआ, आआआआआआआआ आआआ IN THE INCOME TAX APPELLATE TRIBUNAL Hyderabad ‘B’ Bench, Hyderabad BEFORE SHRI LALIET KUMAR, JUDICIAL MEMBER AND SHRI MADHUSUDAN SAWDIA, ACCOUNTANT MEMBER आ.अपी.सं /ITA No.1081/Hyd/2024 (निर्धारण वर्ा/Assessment Year:2021-22) M/s. Kedia Overseas Pvt. Ltd., Hyderabad. PAN:AABCK3898E Vs. Dy. Commissioner of Income Tax, Circle 2(1), Hyderabad. (Appellant) (Respondent) निर्धाररती द्वधरध/Assessee by: Smt. S. Sandhya, Advocate रधजस् व द्वधरध/Revenue by: Shri M. Naveen Kumar, SR-DR सुिवधई की तधरीख/Date of hearing: 12/11/2024 घोर्णध की तधरीख/Pronouncement: 13/11/2024 आदेश/ORDER PER MADHUSUDAN SAWDIA, A.M.: This appeal is filed by M/s. Kedia Overseas Pvt. Ltd., Hyderabad (“the assessee”), feeling aggrieved by the order passed by the Learned Addl./JCIT(A), Mysore (“Ld. Addl./JCIT (A)”), dated 29.08.2024 for the AY 2021-22. 2. At the outset, the Learned Authorised Representative (“Ld. AR”) submitted that Central Processing Centre (“CPC”) vide their intimation u/s.143(1) of the Income Tax ITA No.1081/Hyd/2024 2 Act, 1961 (“the Act”) dated 13.11.2022 not allowed the benefit available u/s.115BAA to the assessee, due to the reason that the required Form no.10 IC was not filed within the specified due date. The assessee also did not succeed in appeal before the Ld. Addl./JCIT (A). 3. Aggrieved with the order of Ld. Addl./JCIT (A), the assessee is in appeal before us. The Ld. AR submitted that the CBDT vide Circular no.19/2023 dated 23.10.2023(“impugned circular”) extended the due date of filing of Form no.10 IC for A.Y. 2017-18. However, the Ld. Addl./JCIT (A) dismissed the appeal of the assessee without considering the impugned circular. Therefore, relying on the impugned circular she prayed before the bench to allow her appeal. 4. Per contra, the Learned Department Representative (“Ld. DR”) relied on the order of Ld. Addl./JCIT (A) and reiterated to dismiss the appeal of the assessee. 5. We have heard the rival contentions and also gone through the record in the light of the submissions made on either side. There is no dispute about the fact that the CBDT has issued the impugned circular with an intention to extend the due date of filing of Form no.10 IC subject to fulfilment of certain conditions ITA No.1081/Hyd/2024 3 by the assessee. It is also a fact that the said circular has not been considered by the Ld. Addl./JCIT (A) before passing the order. Therefore we remand back the issue to the file of Ld. Addl./JCIT (A) with a direction to verify the applicability of the impugned circular to the case of the assessee and pass a suitable order as per law. It is needless to mention that a proper opportunity of being heard to the assessee. Accordingly the grounds are answered. 6. In the result, the appeal of the assessee is allowed for statistical purposes. Order pronounced in the open Court on 13th Nov., 2024. Sd/- Sd/- (LALIET KUMAR) (MADHUSUDAN SAWDIA) JUDICIAL MEMBER ACCOUNTANT MEMBER Hyderabad. Dated: 13.11.2024. * Reddy gp ITA No.1081/Hyd/2024 4 Copy of the Order forwarded to : 1. M/s. Kedia Overseas Private Limited, 19-2-226, Miralam Tank Road, Bahadurpura, Hyderabad- 500 064 2. DCIT, Circle 2(1), Hyderabad. 3. Pr.CIT, Hyderabad. 4. DR, ITAT, Hyderabad. 5. Guard file. BY ORDER, "