2024 (4) TMI 1199

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....r of assessment passed u/s 154 of the Income-tax Act, 1961 (hereinafter referred to as "the Act") dated 13.03.2020 by the Assessing Officer, DCIT, Central Circle-II, Faridabad (hereinafter referred to as "ld. AO"). 2. The assessee has raised the following grounds of appeal before us:- "1. That the learned Commissioner of Income Tax (Appeals)-3, Gurgaon has erred both in upholding the determination of net tax liability at Rs. 2,51,327/- in an intimation dated 28.4.2014 u/s 143(1) of the Act by rejection of application for rectification dated 22.4.2016 in an order cum communicated dated 13.2.2020 u/s 154 of the Act. 1.1 That while dismissing the appeal of the appeal the learned Commissioner of Income Tax (Appeals) ha....

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.... assessee is a partner of M3M India holdings (firm). The assessee was under the bonafide belief that the said partnership firm which is engaged in the profession of providing manpower services, was liable for tax audit u/s 44AB of the Act. Accordingly, the due date for filing of return for the partnership firm u/s 139(1) of the Act would be 31.10.2013 for AY 2013-14. Since, the firm's due date is 31.10.2013 u/s 139(1) of the Act, the partner's due date for filing the income tax return i.e. the assessee herein also would be 31.10.2013. In the instant case, the assessee had filed its return of income u/s 139(1) of the Act on 30.09.2013 in accordance with the aforesaid mandate of law, declaring total income of Rs.107,91,39,910/- and paying tot....

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....iable for tax audit) and charged interest u/s 234A of the Act on the premise that assessee is a partner in a firm not liable u/s 44AB of the Act. As per provisions of section 139(1) of the Act, the due date for the partnership firm not liable for tax audit would be 05.08.2013 for the year under consideration and the due date for partnership which is eligible for tax audit would be 31.10.2013. This is very clear from Explanation to section 139 of the Act, which defines the expression "due date". Hence, the department in the hands of the firm i.e. M3M holding had accepted the fact that it is liable for tax audit and accordingly had accepted the due date of filing of return of income u/s 139(1) of the Act to be 31.10.2013. Hence, the departmen....