2025 (11) TMI 908

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....Revenue : Ms. Archana Gupta, Addl. CIT, Sr. D.R., appeared ORDER Per Duvvuru RL Reddy, Vice-President (KZ):- The present appeal is directed at the instance of assessee against the order of ld. Additional /Joint Commissioner of Income Tax (Appeals)-1, Mumbai dated 27th January, 2025 passed for assessment year 2023-24. 2. Brief facts of the case are that the appellant-assessee is a Limit....

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....assessee claimed current year carry forward loss in terms of provisions of section 71 & 72 of the Income Tax Act, 1961. The Return was processed by CPC Bengaluru which held that the above loss, which the Appellant was not entitled to carry forward as the Return was filed beyond the due date which according to CPC, was 31.07.23. The Appellant is aggrieved by the above action of CPC in not allowing ....

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....ard as the return was filed beyond the due date which according to CPC was 31st July, 2023. Ld. Counsel further submitted that the CPC was wrong in not allowing the claim of assessee for carry forward of the business loss of Rs. 57,90,832/- for set off against future profits in accordance with law and ld. Addl./JCIT(Appeals) dismissed the appeal of the assessee without going into merit of the case....

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....ct that the assessee's turnover aggregated to Rs. 9,52,66,229/-. However, the appellant being LLP was governed by the LLP Act, had to get its books of account audited. The only grievance of the assessee is that the revenue authorities have not considered the due date for LLP according to Section 132(9) i.e. 30th September, but both the revenue authorities were under the impression that the due dat....