2025 (4) TMI 1986

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....ct, 1961 [hereinafter referred to as 'the Act'] whereby the Ld. CIT(A) had dismissed the appeal against the Assessment Order, dated 12/02/2021, passed under Section 143(3) read with Sections 143(3A) and 143(3B) of the Act for the Assessment Year 2018-2019. 2. The Assessee has raised following grounds of appeal : "1. Disallowance under section 40(a)(ia) of the Act of Rs. 43,68,932/- 1.1. The Commissioner of Income-tax (Appeals) (hereinafter referred to as "the CIT(A)] erred in upholding the action of the Assessing Officer (hereinafter referred to as "the AO"] in disallowing a sum of Rs. 43,68,932/- under section 40(a)(ia) of the of the Income-tax Act, 1961 [hereinafter referred to as "the Act"]for reasons which are wrong....

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....ng the genuineness of the expenses. Further, while computing the tax liability, the Assessing Officer failed to adjust the brought forward losses of INR. 15,36,210/- and unabsorbed depreciation of INR. 1,96,309/-. 5. Being aggrieved, the Assessee carried both the issues in appeal before the CIT(A). Vide order, dated 08/08/2024, the CIT(A) dismissed the appeal preferred by the Assessee. 6. Now, being aggrieved, the Assessee has preferred the present appeal before the Tribunal on the grounds reproduced in paragraph 2 above. 7. We have considered the rival submissions and perused the material on record. 8. On perusal of the Assessment Order, the reason given by the Assessing Officer for disallowing deduction of INR. 43,68,932/- cla....

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....1 pages) has been placed before us as part of the paper-book filed by the Assessee. Bare perusal of the aforesaid written submission, dated 02/08/2024, shows that the Assessee had supported claim for deduction of expenses by furnishing TDS challans, audited financials, ledger accounts, petty cash book, supporting payment vouchers etc. However, without taking the same into consideration, the CIT(A) rejected the ground raised by the Assessee challenging the disallowance of INR. 43,68,932/-. Even the ground raised by the Assessee seeking set off of the brought forward losses and unabsorbed depreciation was not adjudicated by the CIT(A). Therefore, order, dated 08/08/2024, passed by the CIT(A) is set aside. During the course of hearing it was c....