THE TAMILNADU CO-OP. MILK PRODUCERS FEDERATION LTD.,CHENNAI V. .ITO, NCW-4(3), CHENNAI

ITA 2683/CHNY/2024

AI Insights

The case involves The Tamil Nadu Co-operative Milk Producers Federation Ltd., which appealed against the order of the Income Tax Officer, Non Corporate Ward-4(3), Chennai, concerning the assessment year 2018-19. The primary contention was the addition of interest income and reserve release to the assessee's income, which the assessee argued was incorrectly assessed. The initial appeal to the CIT(A) was dismissed due to being filed beyond the statutory time limit. However, the assessee argued that the delay should be excused based on the Supreme Court's exclusion of certain periods from limitation calculations due to the pandemic. The Tribunal agreed with the assessee, noting that the appeal was indeed filed within the extended period and directed the CIT(A) to reconsider the appeal on its merits.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 107249 (ITAT-CHENNAI)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 20-12-2024
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: C
• Assessment Year: 2018-2019
• Other Referred Cases: Suo Motu Writ Petition (C) No.3 of 2020
• Laws Referred To: Income-tax Act, 1961
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ANITHA
• Assessee Lawyers: G. AKASH
• Section: 143(3)

Judgement Text

"आयकर अपीलीय अिधकरण, ‘सी’ \u0011ा यपीठ, चे\u0016ई। IN THE INCOME TAX APPELLATE TRIBUNAL ‘C’ BENCH: CHENNAI \u0019ी जॉज\u001c जॉज\u001c क े, उपा \u001e\u001f एवं \u0019ी जगदीश, लेखा सद' क े सम\u001f BEFORE SHRI GEORGE GEORGE K, VICE PRESIDENT AND SHRI JAGADISH, ACCOUNTANT MEMBER आयकर अपील सं./ITA No.2683/Chny/2024 िनधा \u001cरण वष\u001c /Assessment Year: 2018-19 The Tamil Nadu Co-operative Milk Producers Federation Ltd., Aavinillam Chamiers Road, Nandanam, Chennai-600035. Vs. The Income Tax Officer, Non Corporate Ward-4(3), Chennai. [PAN: AAAAT 0239M] (अपीलाथ\u0007/Appellant) (\b\tयथ\u0007/Respondent) अपीला थH की ओर से/ Appellant by : Shri G. Akash, Advocate for Shri G. Baskar, Advocate JKथH की ओर से /Respondent by : Ms. Anitha, Addl. CIT सुनवा ई की ता रीख/Date of Hearing : 17.12.2024 घोषणा की ता रीख /Date of Pronouncement : 20.12.2024 आदेश / O R D E R PER JAGADISH, A.M : Aforesaid appeal filed by the assessee for Assessment Year (AY) 2018-19 arises out of the order of Learned Commissioner of Income Tax, National Faceless Appeal Centre (NFAC), Delhi [hereinafter “CIT(A)”] dated 22.08.2024 in the matter of assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) r.w.s 144B of the Income-tax Act, 1961 (hereinafter “the Act”). ITA No.2683/Chny/2024 :- 2 -: 2. The assessee has filed return of income showing total income of Rs. 36,56,93,015/- on 31.10.2018. The A.O has passed order making addition of interest income amounting to Rs. 4,84,46,344/- and addition of reserve release amounting to Rs. 58,94,968/-. Aggrieved, the assessee preferred an appeal before CIT(A) on 05.01.2022. The Ld CIT(A) held that the demand notice is dated 08.09.2021 and the assessee has filed appeal on 05.01.2022 which is beyond the statutory prescribed time limit for filling appeal. The Ld. CIT(A) did not condone the delay and dismissed the assessee’s appeal. 3. The Ld. Authorized Representative (A.R) of the assessee before us has submitted that there was no delay in filing the appeal as appeal was filled within the extended period of filling appeal . The Ld. AR submitted that the Hon’ble Supreme Court in Suo Motu Writ Petition (C) No.3 of 2020 dated 10.01.2022 has clarified that period from 15.03.2020 to 28.02.2022 shall be excluded in computing the limitation. 4. The Ld. Departmental Representative (DR), on the other hand, has relied on the orders of lower authorities. ITA No.2683/Chny/2024 :- 3 -: 5. We have heard the rival submissions, and perused the materials available on record. The assessee has filed the appeal on 05.01.2022 against the order passed by A.O on 08.09.2021, which is within the period excluded by Hon’ble Supreme Court, supra. Therefore, the Ld. CIT(A) was not justified to dismiss the appeal on non maintainability. We are of the opinion that the assessee has genuine reason for not filing the appeal within the time therefore, Ld. CIT(A) was not justified to not admit the appeal. We therefore, direct the Ld. CIT(A) to admit the appeal and adjudicate on merits in accordance with law, after giving reasonable opportunity to the assessee. We also direct the assessee to appear before the Ld. CIT(A) on the date of hearing without fail. In view of the above, the appeal filed by the assessee is allowed for statistical purposes only. 6. In the result, the appeal filed by the assessee is allowed for statistical purposes. Order pronounced on 20th December, 2024. Sd/- Sd/- (जॉज\u001c जॉज\u001c क े) (George George K) उपा \u001e\u001f / Vice President (जगदीश) (Jagadish) लेखा लेखा लेखा लेखा सद\u0011य सद\u0011य सद\u0011य सद\u0011य /Accountant Member चे\u0013नई/Chennai, \u0016दनांक/Dated: 20th December, 2024. EDN/- ITA No.2683/Chny/2024 :- 4 -: आदेश क\u0019 \bितिल\u001cप अ\u001dे\u001cषत/Copy to: 1. अपीलाथ\u0007/Appellant 2. \b\tथ\u0007/Respondent 3. आयकर आयु\u000f/CIT, Chennai 4. िवभागीय \bितिनिध/DR 5. गाड\u0018 फाईल/GF "