RAMBALRAAM CHAINSS PRIVATE LIMITED,AGRA V. INCOME TAX OFFICER WARD 1(1)(1), AGRA, AGRA

ITA 315/AGR/2025

AI Insights

The case involves Rambalraam Chainss Pvt. Ltd, a private limited company engaged in manufacturing gold chain ornaments, which appealed against the order of the ADD/JCIT(A), Delhi. The primary issue was the application of the tax rate under section 115BAA instead of the concessional tax regime under section 115BAB of the Income-tax Act, 1961. The assessee had initially filed the incorrect Form 10 IC under section 115BAA due to inadvertence but later rectified this by filing the correct Form 10 ID under section 115BAB. The Assessing Officer, however, applied the tax rate under section 115BAA, leading to a tax demand. The Tribunal found that the assessee was prevented by sufficient cause from filing the appeal in time and thus directed the lower authority to admit the appeal and decide the matter afresh.

• Counselvise Citation: [2025] 140 COUNSELVISE.COM (IT) 786992 (ITAT-AGRA)
• Duration Of Justice: 5 month(s) 9 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 19-11-2025
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: SMC
• Assessment Year: 2023-2024
• Appeal Filed On: 09-06-2025
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANIL KUMAR
• Assessee Lawyers: S.C. JAIN
• Keywords: Opportunity of being heard; Additional evidence
• Section: 234B; 10

Judgement Text

"Page | 1 INCOME TAX APPELLATE TRIBUNAL AGRA BENCH “SMC”: AGRA BEFORE SHRI M. BALAGANESH, ACCOUNTANT MEMBER (Through virtual hearing) ITA No. 315/AGR/2025 (Assessment Year: 2023-24) Rambalraam Chainss Pvt. Ltd, 1/98 and 1/99, Kasera Bazar, Johari Bazar, Agra Fort- 282003, Agra Vs. ITO, Ward-1(1)(1), Agra (Appellant) (Respondent) PAN: AAKCR0768H Assessee by : Shri S. C. Jain, CA Revenue by: Shri Anil Kumar, Sr. DR Date of Hearing 16/09/2025 Date of pronouncement 19/11/2025 O R D E R 1. The appeal in ITA No. 315/AGR/2025 for AY 2023-24, arises out of the order of the ADD/JCIT(A), Delhi [hereinafter referred to as ‘ld. JCIT(A)’, in short] dated 05.03.2025 against the order of assessment passed u/s 143(1) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’) dated 22.12.2023 by the Assessing Officer, CPC, Bangalore (hereinafter referred to as ‘ld. AO’). 2. The only effective issue to be decided in this appeal is as to whether the income of the assessee could be determined as per the new concessional tax regime provided under section 115BAB of the Act or not. Printed from counselvise.com ITA No. 315/AGR/2025 Rambalraam Chainss Pvt. Ltd Page | 2 3. I have heard the rival submissions and perused the materials available on record. The assessee is a private limited company engaged in the business of manufacturing gold chain ornaments (semi-finished). The assessee is eligible for the concessional tax regime under section 115BAB of the Act being a newly incorporated manufacturing company. The return of income for assessment year 2023-24 was filed by the assessee company on 29-9-2023 under section 139(1) of the Act. The learned CPC while processing the return issued an intimation under section 143(1) of the Act dated 22-12-2023 applying the tax rate under section 115BAA of the Act instead of section 115BAB of the Act. This error arose due to filing of Form 10 IC under section 115BAA of the Act on 10-2-2021 by the assessee due to inadvertence. The assessee however had duly rectified the same by filing the correct Form 10 ID under section 115BAB of the Act on 19-10- 2022. This had ultimately resulted in raising a tax demand on the assessee of Rs 98,450/- along with interest under section 234B and 234C of the Act by the learned CPC. When the matter was carried before the learned CITA with a delay of 36 days in preferring the appeal before the learned CITA, the learned CITA preferred not to condone the delay and dismissed the appeal of the assessee as not admitted. But I find that the assessee was prevented from sufficient cause from not preferring the appeal in time before the learned CITA. The affidavit of the managing director of the assessee company is already placed on record and hence we direct the learned CITA to condone the delay, admit the appeal of the assessee for adjudication and decide the dispute raised before him in accordance with law afresh. Needless to mention that the assessee be given reasonable opportunity of being heard. The assessee is at liberty to raise additional grounds, if any and furnish additional evidences, if any, in support of its contentions. With these directions, the grounds raised by the assessee are allowed for statistical purposes by restoring to the file of learned CITA. Printed from counselvise.com ITA No. 315/AGR/2025 Rambalraam Chainss Pvt. Ltd Page | 3 4. In the result the appeal of the assessee is allowed for statistical purposes. Order pronounced in the open court on 19/11/2025. -Sd/- (M. BALAGANESH) ACCOUNTANT MEMBER Dated: 19/11/2025 A K Keot Copy forwarded to 1. Applicant 2. Respondent 3. CIT 4. CIT (A) 5. DR:ITAT ASSISTANT REGISTRAR ITAT, New Delhi Printed from counselvise.com "