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Income Tax Appellate Tribunal, MUMBAI BENCH “G” MUMBAI
Before: SHRI ABY T VARKEY & SHRI OM PRAKASH KANT
PER OM PRAKASH KANT, AM
This appeal by the assessee is directed against order dated 27.10.2022 passed by the Ld. Commissioner of Income-tax (Appeals)-48, Mumbai [in short ‘the Ld. CIT(A)’] for assessment year 2017-18, raising following grounds:
On the facts and in the circumstances of the case and in law, the Ld. CIT(A) erred in confirming the addition of Rs.1,17,39,408/- w/s 43B of the Act on account of nonpayment of Statutory dues payable. In doing so CIT(A) failed to appreciate that
M/s Zenith Steel Tubes & Industries Ltd. M/s Zenith Steel Tubes & Industries Ltd. 2 ITA No. 2996/M/2022
• When the appellant company has not claimed any • When the appellant company has not claimed any • When the appellant company has not claimed any expenditure in profit and loss account on account of statutory expenditure in profit and loss account on account of statutory expenditure in profit and loss account on account of statutory dues payable of Rs.1,17,39,408/ dues payable of Rs.1,17,39,408/- there can be no case for there can be no case for disallowance of the same. disallowance of the same. • Statutory dues payable of Rs. 1.17.39.408/ Statutory dues payable of Rs. 1.17.39.408/-, is standing , is standing under the schedule of "Other Current Liabilities" at liability under the schedule of "Other Current Liabilities" at liability under the schedule of "Other Current Liabilities" at liability side in the Balance Sheet. side in the Balance Sheet. 2. On the facts and circumstances of the case and in law. the On the facts and circumstances of the case and in law. the On the facts and circumstances of the case and in law. the CIT (A) erred in confirming the addition of Rs. 2 CIT (A) erred in confirming the addition of Rs. 2 CIT (A) erred in confirming the addition of Rs. 2,40,895/- on account of interest paid on delayed payment (dues) u/s on account of interest paid on delayed payment (dues) u/s on account of interest paid on delayed payment (dues) u/s 37(1) of the Act. In doing so the CIT(A) failed to appreciate 37(1) of the Act. In doing so the CIT(A) failed to appreciate 37(1) of the Act. In doing so the CIT(A) failed to appreciate that The appellant has claimed expenditure of Rs.2,40,895/ The appellant has claimed expenditure of Rs.2,40,895/ The appellant has claimed expenditure of Rs.2,40,895/- in the profit and loss account under the head financial charges. profit and loss account under the head financial charges. profit and loss account under the head financial charges. The appellant company has disallowed the same while he appellant company has disallowed the same while he appellant company has disallowed the same while computing the total income by adding it back. This will lead to computing the total income by adding it back. This will lead to computing the total income by adding it back. This will lead to double taxation on the same amount double taxation on the same amount 3. On the facts and circumstances of the case, the Ld. CIT(A) On the facts and circumstances of the case, the Ld. CIT(A) On the facts and circumstances of the case, the Ld. CIT(A) erred in confirming the disallowance of loss of erred in confirming the disallowance of loss of erred in confirming the disallowance of loss of Rs. 1,46,70,249/ 1,46,70,249/- and addition of Rs. 7,61,260/- by taking net by taking net profit @ 0.27% (earlier year net profit i.e., A.Y. 2016 profit @ 0.27% (earlier year net profit i.e., A.Y. 2016 profit @ 0.27% (earlier year net profit i.e., A.Y. 2016-17) on total expenses claimed in profit and loss account. In doing total expenses claimed in profit and loss account. In doing total expenses claimed in profit and loss account. In doing so • The computation of income by applying net rate and • The computation of income by applying net rate and • The computation of income by applying net rate and disallowing disallowing loss was not correct when book profits were not loss was not correct when book profits were not rejected • There is no proper basis for adopting a net profit rate of • There is no proper basis for adopting a net profit rate of • There is no proper basis for adopting a net profit rate of 0.27% in co total income. 0.27% in co total income. 4. On the facts and in the circumstances of the case and in On the facts and in the circumstances of the case and in On the facts and in the circumstances of the case and in law, the CIT(A) erred in approving the assessment and law, the CIT(A) erred in approving the assessment and law, the CIT(A) erred in approving the assessment and confirming the additions made therein without taking into onfirming the additions made therein without taking into onfirming the additions made therein without taking into consideration the fact that proper opportunity was not consideration the fact that proper opportunity was not consideration the fact that proper opportunity was not granted to the assessee and there was non compliance granted to the assessee and there was non compliance granted to the assessee and there was non compliance with principles of natural justice. with principles of natural justice.
M/s Zenith Steel Tubes & Industries Ltd. M/s Zenith Steel Tubes & Industries Ltd. 3 ITA No. 2996/M/2022
Briefly stated, facts of the case are that the asses Briefly stated, facts of the case are that the asses Briefly stated, facts of the case are that the assessee company was engaged in the business of manufacturing and trading steel was engaged in the business of manufacturing and trading steel was engaged in the business of manufacturing and trading steel products. In the year under consideration, the assessee filed return products. In the year under consideration, the assessee filed return products. In the year under consideration, the assessee filed return of of of income income income electronically electronically electronically on on on 31.1.2017 31.1.2017 31.1.2017 declaring declaring declaring loss loss loss of of of Rs.1,47,23,604/-. The return of income filed by the asse . The return of income filed by the asse . The return of income filed by the assessee was selected for scrutiny and statutory notices under the Income-tax selected for scrutiny and statutory notices under the Income selected for scrutiny and statutory notices under the Income Act, 1961 (in short ‘the Act’) were issued and complied with. In the Act, 1961 (in short ‘the Act’) were issued and complied with. In the Act, 1961 (in short ‘the Act’) were issued and complied with. In the assessment completed u/s 143(4) of the Act on 10.12.2019, the assessment completed u/s 143(4) of the Act on 10.12.2019, the assessment completed u/s 143(4) of the Act on 10.12.2019, the Assessing Officer made certain additions/disallowances. Assessing Officer made certain additions/disallowan Assessing Officer made certain additions/disallowan
On further appeal, the Ld. CIT(A) rejected the contention of the On further appeal, the Ld. CIT(A) rejected the contention of the On further appeal, the Ld. CIT(A) rejected the contention of the assessee and upheld the order of the Ld. Assessing Officer. assessee and upheld the order of the Ld. Assessing Officer. assessee and upheld the order of the Ld. Assessing Officer.
Aggrieved the assessee is before us by way of raising grounds Aggrieved the assessee is before us by way of raising grounds Aggrieved the assessee is before us by way of raising grounds as reproduced above. as reproduced above.
Before us, the Ld. Counsel of th Before us, the Ld. Counsel of the assessee has filed a Paper e assessee has filed a Paper Book containing pages 1 to 103. Book containing pages 1 to 103.
The Ld. Counsel referred to ground No. 1 of the appeals and The Ld. Counsel referred to ground No. 1 of the appeals and The Ld. Counsel referred to ground No. 1 of the appeals and submitted that addition of Rs.1,17,39,408/ submitted that addition of Rs.1,17,39,408/- u/s 43B of the Act on u/s 43B of the Act on account of non-payment of statutory dues is not justified as no payment of statutory dues is not justified as no payment of statutory dues is not justified as no such statutory dues dues payable of Rs.1,17,39,408/- was claimed by was claimed by the assessee in the profit and loss account in the year under the assessee in the profit and loss account in the year under the assessee in the profit and loss account in the year under consideration. The Ld. Counsel of the assessee referred to the profit consideration. The Ld. Counsel of the assessee referred to the profit consideration. The Ld. Counsel of the assessee referred to the profit and loss account, balance and loss account, balance sheets and computation of income fil sheets and computation of income filed in the paper book.
M/s Zenith Steel Tubes & Industries Ltd. M/s Zenith Steel Tubes & Industries Ltd. 4 ITA No. 2996/M/2022
On the contrary, the Ld. Departmental Representative (DR) On the contrary, the Ld. Departmental Representative (DR) On the contrary, the Ld. Departmental Representative (DR) submitted that according to the balance sheet in the year under submitted that according to the balance sheet in the year under submitted that according to the balance sheet in the year under consideration statutory dues payable are of Rs.1,17,39,408/- as consideration statutory dues payable are of Rs.1,17,39,408/ consideration statutory dues payable are of Rs.1,17,39,408/ compared to amount of Rs.59,59,478/ compared to amount of Rs.59,59,478/- and therefore, there is refore, there is certainly certainly certainly statutory statutory statutory dues dues dues are are are payable payable payable for for for the the the year year year under under under consideration. He referred to the computation of the income filed by consideration. He referred to the computation of the income filed by consideration. He referred to the computation of the income filed by the assessee on paper book page No. 1 and submitted that no the assessee on paper book page No. 1 and submitted that no the assessee on paper book page No. 1 and submitted that no disallowance in respect of statutory dues has been added to the net disallowance in respect of statutory dues has been add disallowance in respect of statutory dues has been add profit as per the profit and loss account available on page 6 of the profit as per the profit and loss account available on page 6 of the profit as per the profit and loss account available on page 6 of the Paper Book. According to him, in the profit and loss account, the Paper Book. According to him, in the profit and loss account, the Paper Book. According to him, in the profit and loss account, the assessee has debited rates taxes license and inspe assessee has debited rates taxes license and inspection charges of ction charges of Rs.14,80,039/-. The other expenses . The other expenses are also debited and the lso debited and the statutory due might have camouflaged in other expenses. Therefore, statutory due might have camouflaged in other expenses. T statutory due might have camouflaged in other expenses. T the assessee is required to submit the assessee is required to submit ledger account of all expenses ledger account of all expenses and an evidence/ proof of deposit of all the items liable for proof of deposit of all the items liable for proof of deposit of all the items liable for disallowance u/s 43B of the Act. Accordingly, he submitted that disallowance u/s 43B of the Act. Accordingly, he submitted that disallowance u/s 43B of the Act. Accordingly, he submitted that issue may be restored back to the Assessing Officer for deciding issue may be restored back to the Assessing Officer for deciding issue may be restored back to the Assessing Officer for deciding afresh.
We have heard rival submission of the parties on the issue We have heard rival submission of the parties on the issue We have heard rival submission of the parties on the issue-in- dispute and perused the relevant material on record. We find that and perused the relevant material on record. We find that and perused the relevant material on record. We find that the Assessing Officer noted that under the head ‘liabilities’ statutory the Assessing Officer noted that under the head ‘liabilities’ statutory the Assessing Officer noted that under the head ‘liabilities’ statutory dues payable of Rs.1,17,39,408/ dues payable of Rs.1,17,39,408/- was appearing. This amount is was appearing. This amount is duly verifiable from the balance sheet filed before us (PB-10). Before duly verifiable from the balance sheet filed before us (PB duly verifiable from the balance sheet filed before us (PB the Assessing Officer the Assessing Officer, the assessee had provided breakup of this provided breakup of this
M/s Zenith Steel Tubes & Industries Ltd. M/s Zenith Steel Tubes & Industries Ltd. 5 ITA No. 2996/M/2022
amount of Rs.1,17,39,408/ amount of Rs.1,17,39,408/- which consist of VAT payable of VAT payable of Rs.81,00,706/-, TDS payable of Rs.76,227/ , TDS payable of Rs.76,227/-, Exise Duty payable of , Exise Duty payable of Rs.13,032/- professional tax Rs.31,575/ professional tax Rs.31,575/- and Gram Pancha and Gram Panchayat Tax Rs.13,97,660/-. The Assessing Officer has also noted that the . The Assessing Officer has also noted that the . The Assessing Officer has also noted that the amount of statutory dues payable u/s 43B of the Act has not been amount of statutory dues payable u/s 43B of the Act has not been amount of statutory dues payable u/s 43B of the Act has not been added back to the computation of income and accordingly he made added back to the computation of income and accordingly he made added back to the computation of income and accordingly he made addition. On further appeal, the Ld. CIT(A) after verification of the addition. On further appeal, the Ld. CIT(A) after verific addition. On further appeal, the Ld. CIT(A) after verific documents filed by the assessee directed the assessee to produce documents filed by the assessee directed the assessee to produce documents filed by the assessee directed the assessee to produce necessary documents before the Assessing Officer for verification. necessary documents before the Assessing Officer for verification. necessary documents before the Assessing Officer for verification. The relevant finding of the Ld. CIT(A) is reproduced as under: The relevant finding of the Ld. CIT(A) is reproduced as under: The relevant finding of the Ld. CIT(A) is reproduced as under:
“7.2 I have carefully considered the facts of th 7.2 I have carefully considered the facts of the case It is e case It is relevant to mention over here that, the AO in his relevant to mention over here that, the AO in his relevant to mention over here that, the AO in his assessment order in para 5 has discussed this issue assessment order in para 5 has discussed this issue assessment order in para 5 has discussed this issue elaborately. As per section 43B of the Income Tax Act that elaborately. As per section 43B of the Income Tax Act that elaborately. As per section 43B of the Income Tax Act that any taxes not actually paid cannot be allowed as business any taxes not actually paid cannot be allowed as business any taxes not actually paid cannot be allowed as business expense. 7.3 The AO had 7.3 The AO had observed that Assessee had not added observed that Assessee had not added back amount of Rs. 1,17,39,408/ back amount of Rs. 1,17,39,408/- in final computation as in final computation as statutory dues payable u/s43B of the Act. In absence of statutory dues payable u/s43B of the Act. In absence of statutory dues payable u/s43B of the Act. In absence of any further submission made by the assessee, it was any further submission made by the assessee, it was any further submission made by the assessee, it was unclear whether assessee made payment of these taxes unclear whether assessee made payment of these taxes unclear whether assessee made payment of these taxes before filing of return of income. Hence, the AO added back efore filing of return of income. Hence, the AO added back efore filing of return of income. Hence, the AO added back the amount of Rs.1,17,39,408/ the amount of Rs.1,17,39,408/- to the income of the to the income of the assessee u/s 43B. assessee u/s 43B. 7.4 According to the appellant, it has not claimed any 7.4 According to the appellant, it has not claimed any 7.4 According to the appellant, it has not claimed any expenses in respect to statutory dues, in the return of expenses in respect to statutory dues, in the return of expenses in respect to statutory dues, in the return of income as the sa income as the same were added under the head "Other me were added under the head "Other Current Liabilities". However, no documentary evidences is Current Liabilities". However, no documentary evidences is Current Liabilities". However, no documentary evidences is submitted for verification of the undersigned, except the submitted for verification of the undersigned, except the submitted for verification of the undersigned, except the written submission without any attachment. In such written submission without any attachment. In such written submission without any attachment. In such situation, the A.O. is directed to allow the claim o situation, the A.O. is directed to allow the claim o situation, the A.O. is directed to allow the claim of the appellant, if the same is found to be correct and genuine. appellant, if the same is found to be correct and genuine. appellant, if the same is found to be correct and genuine. The appellant will also produce necessary documents The appellant will also produce necessary documents The appellant will also produce necessary documents
M/s Zenith Steel Tubes & Industries Ltd. M/s Zenith Steel Tubes & Industries Ltd. 6 ITA No. 2996/M/2022
before A.O. for verification. Hence, subject to the above before A.O. for verification. Hence, subject to the above before A.O. for verification. Hence, subject to the above direction to the AD and looking to the fact that no original direction to the AD and looking to the fact that no original direction to the AD and looking to the fact that no original record is with the u record is with the undersigned verification, the ground is ndersigned verification, the ground is treated as dismissed for statistical purposes. treated as dismissed for statistical purposes.” 8.1 In our opinion the finding of the Ld CIT(A) on the issue in In our opinion the finding of the Ld CIT(A) on the issue in In our opinion the finding of the Ld CIT(A) on the issue in dispute is well reasoned and he has directed for factual verification dispute is well reasoned and he has directed for factual verification dispute is well reasoned and he has directed for factual verification of the claim of the assessee. of the claim of the assessee. We find that from the balance sheet nd that from the balance sheet (PB-10) it is evident that during the year under consideration there 10) it is evident that during the year under consideration there 10) it is evident that during the year under consideration there is an increase in accounting statutory dues payable from is an increase in accounting statutory dues payable from is an increase in accounting statutory dues payable from Rs.59,59,078/- to Rs.1,17,39,408/ to Rs.1,17,39,408/-. Thus, there is a net increase of there is a net increase of Rs.57,79,930/- during the year during the year under consideration under consideration. On verification of the computation of the income, we find that computation has of the computation of the income, we find that computation has of the computation of the income, we find that computation has been started from net loss of Rs.1,46,17,249/ been started from net loss of Rs.1,46,17,249/- and thereafter certain amount has been added. The first item added is certain amount has been added. The first item added is certain amount has been added. The first item added is depreciation, the second amount is dis the second amount is disallowance u/s 40A which is allowance u/s 40A which is in respect of provisions of gratuity, the in respect of provisions of gratuity, the third disallowance u/s 43B disallowance u/s 43B is in respect of leave salary of Rs.53,48,985/ is in respect of leave salary of Rs.53,48,985/- and the and the fourth amount is other addition of Rs.2,40,091/ other addition of Rs.2,40,091/-, which is in respect of which is in respect of delay payment of VAT, Excise, T delay payment of VAT, Excise, TDS etc. as against we note that in DS etc. as against we note that in the profit and loss account, the assessee has debited a sum of the profit and loss account, the assessee has debited a sum of the profit and loss account, the assessee has debited a sum of Rs.1,48,00,59/- under the head ‘rates taxes’ license and inspection under the head ‘rates taxes’ license and inspection under the head ‘rates taxes’ license and inspection charged (PB-14). The assessee has not provided detailed ledger The assessee has not provided detailed ledger The assessee has not provided detailed ledger account of other expenses d account of other expenses debited in profit and loss account. ebited in profit and loss account. Thus it is not evident how much amount out of amount it is not evident how much amount out of amount of statutory dues of statutory dues under the expense head for the year under consideration is for the year under consideration is debited under the expense head ‘taxes rate’ etcor any other expense head ’ etcor any other expense head. But it is evident that . But it is evident that
M/s Zenith Steel Tubes & Industries Ltd. M/s Zenith Steel Tubes & Industries Ltd. 7 ITA No. 2996/M/2022
nothe statutory dues payment has not been added dues payment has not been added dues payment has not been added back to the profit and gains of the business or profession profit and gains of the business or profession for the purpose of the for the purpose of the computation of the income. We find that this issue has already been computation of the income. We find that this issue has already been computation of the income. We find that this issue has already been directed by the Ld. CIT(A) for verification of the directed by the Ld. CIT(A) for verification of the Assessing Officer. Assessing Officer. Therefore, we restore this we restore this issue to the file of the Assessing Officer to the file of the Assessing Officer and if same is not verified and if same is not verified by him in compliance to the direction of by him in compliance to the direction of ld CIT(A), he is directed to verify the detail of the ledgers of he is directed to verify the detail of the ledgers of he is directed to verify the detail of the ledgers of various expenses debited in profit and loss account expenses debited in profit and loss account and if any of the and if any of the amount of the statutory dues payable is not debited to the profit amount of the statutory dues payable is not debited to the profit amount of the statutory dues payable is not debited to the profit and loss account, then no addition would be required in the case. then no addition would be required in the case. then no addition would be required in the case. The ground of the appeal of the assessee is accordingly allowed for The ground of the appeal of the assessee is accordingly allowed for The ground of the appeal of the assessee is accordingly allowed for statistical purposes.
The ground No. 2 of the appeal of the assessee relates to No. 2 of the appeal of the assessee relates to No. 2 of the appeal of the assessee relates to addition of Rs.2,40,895/ addition of Rs.2,40,895/- on account of interest paid on delayed on account of interest paid on delayed payment for VAT, excise etc. T for VAT, excise etc. The assessee has claimed that this he assessee has claimed that this amount was already added in the computation of the income. amount was already added in the computation of the income. amount was already added in the computation of the income.
We have heard ri We have heard rival submission of the parties on the issue val submission of the parties on the issue-in- dispute and perused the relevant material on record. We find that dispute and perused the relevant material on record. We find that dispute and perused the relevant material on record. We find that the Ld. CIT(A) has directed the Assessing Officer for verification of the Ld. CIT(A) has directed the Assessing Officer for verification of the Ld. CIT(A) has directed the Assessing Officer for verification of the AO. On perusal of the computation of the income filed before us the AO. On perusal of the computation of the income filed before us the AO. On perusal of the computation of the income filed before us on paper book page 1, we find that amount of Rs.2,40,091/ er book page 1, we find that amount of Rs.2,40,091/- has er book page 1, we find that amount of Rs.2,40,091/ already been added by the assessee in respect of interest on delayed already been added by the assessee in respect of interest already been added by the assessee in respect of interest payment for VAT , excise etc for VAT , excise etc. Therefore, no further addition is . Therefore, no further addition is required. If the Assessing Officer has already not deleted this required. If the Assessing Officer has already not deleted this required. If the Assessing Officer has already not deleted this
M/s Zenith Steel Tubes & Industries Ltd. M/s Zenith Steel Tubes & Industries Ltd. 8 ITA No. 2996/M/2022
addition, then he is directed to delete the addition of Rs.2,40,095/ then he is directed to delete the addition of Rs.2,40,095/- then he is directed to delete the addition of Rs.2,40,095/ in respect of interest paid on the delayed payments. The ground of in respect of interest paid on the delayed payments. The ground of in respect of interest paid on the delayed payments. The ground of the assessee is accordingly allowed. the assessee is accordingly allowed.
The 3rd ground of appeal of the assessee relates to ground of appeal of the assessee relates to ground of appeal of the assessee relates to disallowance of loss of Rs. disallowance of loss of Rs.1,46,17,249/- and further addition of and further addition of Rs.7,61,260/- by taking old net profit rate of 0.27% i.e. net profit by taking old net profit rate of 0.27% i.e. net profit by taking old net profit rate of 0.27% i.e. net profit rate of earlier year.
We have heard rival submission of the parties on the issue We have heard rival submission of the parties on the issue We have heard rival submission of the parties on the issue-in- dispute and perused the relevant material on record. We find that dispute and perused the relevant material on record. We find dispute and perused the relevant material on record. We find the Assessing Officer asked the assessee to produce details of the the Assessing Officer asked the assessee to produce details of the the Assessing Officer asked the assessee to produce details of the expenses debited under the profit and loss account containing expenses debited under the profit and loss account containing expenses debited under the profit and loss account containing name, address and PAN of the party and detail of the TDS along name, address and PAN of the party and detail of the TDS along name, address and PAN of the party and detail of the TDS along with copy of the invoices etc. But the assessee could not produce all with copy of the invoices etc. But the assessee could not with copy of the invoices etc. But the assessee could not the documents except purchases worth more than Rs.10 lacs. In the documents except purchases worth more than Rs.10 lacs. the documents except purchases worth more than Rs.10 lacs. the ground No. 4 of the appeal, the assessee has the ground No. 4 of the appeal, the assessee has contested contested that no appropriate opportunity of being heard has been allowed to the appropriate opportunity of being heard has been allowed to the appropriate opportunity of being heard has been allowed to the assessee in presenting its evidence in support of return of income. assessee in presenting its evidence in support of re assessee in presenting its evidence in support of re We find that the Ld. CIT(A) has We find that the Ld. CIT(A) has dismissed this ground of the dismissed this ground of the assessee is observing as under: assessee is observing as under:
“13.1 I have carefully considered the facts of the case. I 13.1 I have carefully considered the facts of the case. I 13.1 I have carefully considered the facts of the case. I observed that the AO had issued and served a notice u/s observed that the AO had issued and served a notice u/s observed that the AO had issued and served a notice u/s 143(2) on 13.08.2018, however th 143(2) on 13.08.2018, however the Assessee has not filed e Assessee has not filed any submission. During assessment proceedings, the notice any submission. During assessment proceedings, the notice any submission. During assessment proceedings, the notice u/s142(1) was issued by the AO on 13.09.2019 . The u/s142(1) was issued by the AO on 13.09.2019 . The u/s142(1) was issued by the AO on 13.09.2019 . The assessee had made submission in the month of December, assessee had made submission in the month of December, assessee had made submission in the month of December, 2019 ie. after more than 2 and half months time. The A.O. 2019 ie. after more than 2 and half months time. The A.O. 2019 ie. after more than 2 and half months time. The A.O.
M/s Zenith Steel Tubes & Industries Ltd. M/s Zenith Steel Tubes & Industries Ltd. 9 ITA No. 2996/M/2022
has given sufficient time to the AO to the appellant to sufficient time to the AO to the appellant to sufficient time to the AO to the appellant to submit the detail called by the AO. The submission of the submit the detail called by the AO. The submission of the submit the detail called by the AO. The submission of the appellant is considered by the AO while passing the appellant is considered by the AO while passing the appellant is considered by the AO while passing the Assessment order. Assessment order. During the appellate proceedings only written submission in During the appellate proceedings only written submission in During the appellate proceedings only written submission in 5 pages has been subm 5 pages has been submitted, which is reproduced above. itted, which is reproduced above. Accordingly, this ground of appeal is dismissed too. Accordingly, this ground of appeal is dismissed too. Accordingly, this ground of appeal is dismissed too.” 13. Before us, the Ld. Counsel of the assessee submitted that the Before us, the Ld. Counsel of the assessee submitted that the Before us, the Ld. Counsel of the assessee submitted that the assessee is willing to produce all documentary evidence in support assessee is willing to produce all documentary evidence in support assessee is willing to produce all documentary evidence in support of expenses claimed and therefore, of expenses claimed and therefore, in the interest of substantial in the interest of substantial justice, we feel it appropriate to restore this issue back to the file of e feel it appropriate to restore this issue back to the file of e feel it appropriate to restore this issue back to the file of the Assessing Officer. It is needless to mention that the assessee the Assessing Officer. It is needless to mention that the assessee the Assessing Officer. It is needless to mention that the assessee shall be afforded adequate opportunity of being heard. The ground shall be afforded adequate opportunity of being heard. The ground shall be afforded adequate opportunity of being heard. The ground No. 3 is allowed for statistical purposes whereas ground No. 4 of the or statistical purposes whereas ground No. 4 of the or statistical purposes whereas ground No. 4 of the appeal of the assessee is allowed. appeal of the assessee is allowed.
In the result, the appeal of the assessee is allowed for In the result, the appeal of the assessee is allowed for In the result, the appeal of the assessee is allowed for statistical purposes. Order pronounced in the open Court on nced in the open Court on 26/04 04/2023. Sd/- Sd/ Sd/- (ABY T VARKEY ABY T VARKEY) (OM PRAKASH OM PRAKASH KANT) JUDICIAL MEMBER JUDICIAL MEMBER ACCOUNTANT MEMBER ACCOUNTANT MEMBER Mumbai; Dated: 26/04/2023 Rahul Sharma, Sr. P.S. Copy of the Order forwarded to Copy of the Order forwarded to : 1. The Appellant 2. The Respondent. 3. CIT 4. DR, ITAT, Mumbai
M/s Zenith Steel Tubes & Industries Ltd. M/s Zenith Steel Tubes & Industries Ltd. 10 ITA No. 2996/M/2022
Guard file.
BY ORDER, BY ORDER, //True Copy// (Assistant Registrar) (Assistant Registrar) ITAT, Mumbai ITAT, Mumbai