2023 (5) TMI 734

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....s of appeal:- "1. The ld. CIT(A) grossly erred in confirming the order passed u/s 143(1) of the Act and thereby rejected the plea to be taxed u/s 115BAA of the Act instead of 115JB of the Act as discussed in para 5 of the CIT(A) order. 2. The appellant reserves right to add, alter and withdraw of any grounds of appeal." 2. Brief facts of the case are that the assessee is in the business of textile filed its return of income for the A.Y.2020-21 on 15/01/2021 declaring NIL income. The assessee while filing return of income opted to be taxed as per provisions of Section 115BAA of the Income Tax Act, 1961 (in short, the Act). The return of income was processed by the Central Processing Centre, Bengaluru, (CPC) on 20/12/2021 and taxed the i....

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....pheld the action of Assessing Officer by holding that the assessee has not filed Form 10-IC electronically, so the benefit of CBDT Circular cannot be claimed by the assessee. The return of income was processed by the CPC, Bengaluru under Section 143(1). The Form was filed in physical form before the jurisdictional Assessing Officer which was not permissible and was not available in system for processing by the CPC so there is no mistake in the order of CPC. Aggrieved by the order of ld. CIT(A), the assessee has filed present appeal before this Tribunal. 5. We have heard the submissions of the learned Authorised Representative (ld. AR) of the assessee and the learned Commissioner of Income Tax-Departmental Representative (ld. CIT-DR) for th....

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.... Vs CIT 219 ITR 721 (Guj) (ii) CIT Vs Gujarat Oil & Allied Industries (1993) 201 ITR 325 (Guj)] (iii) Gujarat Paguthan Energy Corporation (P) Ltd. Vs DcIT 225 Taxman 70 (Guj) (iv) CIT Vs Web Commerce India (P) Ltd. (2009) 318 ITR 135 (Delhi) (v) CIT Vs Kaira District Co-operative Milk Producers Union Ltd. (1979) 116 ITR 319. (vi) CIT Vs Sakal Relief Fund (2017) 81 taxmann.com 396 (Bom) (vii) CIT Vs National Taj Traders (1980) 121 ITR 535 (SC) (viii) Goodyear India Ltd. Vs State of Haryana & Ors. (1991) 188 ITR 403 (SC) 6. On the other hand, the ld. CIT-DR for the revenue submits that the assessee has not fulfilled the requisite condition for availing the benefit of Section 115BAA of the Act. The assessee has not uploaded Form....