SHIVDHAM INDUSTRIES (P) LTD.,TINSUKIA vs. DEPUTY COMMISSIONER OF INCOME TAX, CPC, BANGALORE

order

: January 2nd, 2023 आदेश ORDER

Per Manish Borad, Accountant Member:

1. In the facts and circumstances of the case, the learned Commissioner of Income Tax (Appeals) was not justified in holding that the Appellant did not press Ground no. 3.

2. The appellant craves the leave to add, amend, alter, vary and/or withdraw any or all the above grounds of appeal.”

3. The sole ground raised by the assessee is that ld. CIT(A) was not justified in holding that the appellant did not press ground no. 3 raised in the appeal before ld. CIT(A).

4. We have heard rival contentions and perused the records placed before us. It has been stated before us by the ld. Counsel for the assessee that in the return of income filed in Form no. ITR- 6 in Schedule CFL, the assessee has furnished “details of loss to be carried forward to future years” totalling to Rs. 82,89,050/- which included the brought forward losses from earlier years totalling to Rs. 75,33,200/- and balance for current year. It was further stated that in the return processed u/s 143(1) of the Act such claim of brought forward loss and current year loss was not allowed and for the proposed adjustments Centralized Processing Centre did not provide any opportunity before making the said adjustments as provided under the proviso to Section 143(1)(a) of the Act. After hearing ld. Counsel for the assessee and on perusal of the impugned order we find force in the contention of the ld. Counsel for the assessee that reasonable opportunity was not Page 2 of 4 I.T.A. No.: 180/Gty/2020 Assessment Year: 2018-19 Shivdham Industries P. Ltd. provided to the assessee before declining the claim and thus, restore this issue of claim of brought forward loss to be carried forward to future years as well as loss of current year to be carried forward for set off in the future years to ld. CIT(A) for necessary adjudication and to pass a speaking order on this issue. Further, the assessee is also directed to furnish all relevant details which it had mentioned in the written submission placed before ld. CIT(A) agitating ground no. 3 relating to disallowance of losses. Needless to mention that proper opportunity of being heard should be provided to the assessee. Thus, ground no. 1 is allowed for statistical purposes.

5. Ground no. 2 is general in nature which needs no adjudication.

6. In the result, appeal of the assessee is allowed for statistical purposes. Kolkata, the 2nd January, 2023