PABRAI INVESTMENT FUND IV L.P,MUMBAI vs. DCIT INT. TAX CIRCLE 3(3)(2), MUMBAI

ITA 637/MUM/2025Status: DisposedITAT Mumbai21 July 2026AY 2018-1927 pages
AI SummaryRemanded

What were the facts?

The assessee, a US-registered LLP, filed its return of income treating itself as a non-resident body corporate with a due date of September 30, 2018. However, the CPC processed the return considering the assessee as a firm with a due date of August 31, 2018, leading to the disallowance of carry-forward losses.

What did the Tribunal hold?

The Tribunal held that the CPC correctly processed the return as a firm based on the PAN status provided by the assessee, and the due date for a firm was correctly applied. However, the issue of treating the assessee as a firm versus a corporate entity requires further investigation regarding Double Taxation Avoidance Agreements (DTAA).

What were the issues?

Whether the assessee, a US-registered LLP, should be treated as a firm or a non-resident body corporate for Indian tax purposes, and the consequential impact on the due date for filing returns and carry-forward of losses.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 115BBDA,Section 234A,Section 234B,Section 234C

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “I” BENCH, MUMBAI

Before: SMT. BEENA PILLAI, JM & SHRI ARUN KHODPIA, AM

For Appellant: Shri Krishna Kumar (Sr. DR)
Hearing: 30.04.2026Pronounced: 21.07.2026

Per Arun Khodpia, AM: The captioned appeal is filed by the assessee, against the order of the Commissioner of Income Tax Appeals – 57, Mumbai [in short, “the Ld. CIT(A)”], dated 14.11.2024 for the Assessment Year (AY) 2020-21. Arises out of the assessment order under section 143(1) of the Income Tax Act, 1961 [in short, “the Act”] dated 03.09.2026, passed byCentral Processing Center, Pabrai Investment Fund IV L.

The order continues below.

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