2025 (9) TMI 506

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....d by the assessee, beyond time limit prescribed under section 253(3) of IT Act. The assessee has submitted application duly supported by affidavit for condonation of delay in filing of the appeal pleading that the delay was unintentional and beyond the control of the assessee and has requested to admit the appeal for hearing. The learned Sr. Departmental Representative for Revenue did not express any objection to assessee's application for condonation of delay in filing of the appeal. In view of the foregoing, and in specific facts and circumstances of the present appeal before us, the delay in filing of this appeal is condoned; and the appeal is admitted for hearing. 3. The facts of the case, in brief, are that the assessee firm fil....

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....t in the F.Y. 2018-19 relevant to A.Y. 2019-20 the appellant is found to have claimed excess ITC for which the penalty notice was issued by the GST department to the appellant. This excess ITC claim was later on reversed by making payment to GST department on 19.06.2020 i.e. during the year under consideration. After making this payment, the appellant claimed the same in the Profit & Loss Account as revenue expenditure. During the appellate proceeding, the appellant has submitted that during AY 2023-24 when assessee realized that such ITC claim was not eligible due to non-reflecting of credit in form 2A in composition scheme, such ITC was reversed at Rs. 11,10,678/- in books of account and credited in P&L a/c as other income and paid tax th....