2023 (5) TMI 734

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....1. The assessee has raised following grounds 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 Proces....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... The ld. CIT(A) after considering the submission of assessee, upheld 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 Commissio....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... relied on the following case laws: (i) Zenith Processing Mills 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 ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on (P) Ltd. Vs DCIT (supra) while considering the eligibility of deduction of Section 80-IA of the Act, wherein the assessee is required to furnish audit report before due date of filing return of income, and such audit report was filed during assessment proceedings, the assessee was held to be eligible for deduction under Section 80-IA of the Act. Further, Hon'ble Delhi High Court in CIT Vs Web Commerce (India) (P) Ltd. (2009) 318 ITR 135/178 Taxman 310 (Delhi) also held that once audit report is filed before framing of assessment, the provisions of Section 80-IA (7) would be complied as furnishing of such report at the time of filing of return is directory in nature and not mandatory. Considering the similar principle that the assessee fu....