TECHNOVA IMAGING SYS (P) LTD EMPLOYEES GROUP GRATUTIY CUMLA SCHEME,MUMBAI vs. ITO WARD-22(3)(6), MUMBAI
IN THE INCOME TAX APPELLATE TRIBUNAL, ‘E’ BENCH
MUMBAI
BEFORE: SHRI AMIT SHUKLA, JUDICIAL MEMBER
&
SHRI GIRISH AGRAWAL, ACCOUNTANT MEMBER
Technova Imaging Sys
(P)
Ltd.
Employees
Group Gratuity Cumla
Scheme
TIS(P) Ltd. Laxmi Mills
Estate
Off Dr. E Moses Road
Mahalaxmi,
Mumbai-
400 011
Vs. Income
Tax
Officer,
Ward-22(3)(6)
Piramal Chamber
Lalbaug, Parel
Mumbai – 400 012
PAN/GIR No.AAATT4478K
(Appellant)
..
(Respondent)
Assessee by Shri Pankaj Toprani, Adv.
(Virtually appeared)
Revenue by Shri Hemanshu Joshi, SR DR
Date of Hearing
12/06/2025
Date of Pronouncement 26/06/2025
आदेश / O R D E R
PER AMIT SHUKLA (J.M):
The aforesaid appeal has been filed by the assessee against order dated 17/02/2025 passed by Addl./JCIT(A)-2, Guwahati in relation to the adjustment made u/s.143(1) for the A.Y.2018-19. Techno Imaging Sys (P) Ltd Employees Group Gratuity Cumla Scheme
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2. In various grounds of appeal the assessee has challenged denying of exemption amount of Rs. 1,72,74,520/- u/s.10(25)(iv) under misconception that the approval of the gratuity fund is not of representative assessee but erstwhile name of the company.
3. The brief facts are that assessee M/s. TechNova Imaging
Systems (P) Ltd. Employees Group Gratuity Cum Life Assurance
Scheme is a Gratuity Fund set up by TechNova Imaging Systems
(P) Ltd. (the Employer) for its employees under an irrecoverable trust for providing gratuity to its employees vide Deed of Trust dated 1st October, 1988. It was granted approval by the ld.
CIT(A)-Mumbai vide letter dated 17/04/1995 and the approval was given w.e.f. 01/04/1998. The employer has insured its gratuity liability with LIC of India and also with Birla Sunlife
Insurance, accordingly, the entire income of the assessee was exempt u/s. 10(25)(iv) of the Act as per the approved gratuity fund. For the relevant A.Y.2018-19 assessee has e-filed its return of income declaring ‘nil’ income after claiming the exemption u/s.10(25) (iv) on its entire income of Rs.1,72,74,521/-, however, the CPC denied the exemption and assessed the total income of the assessee of Rs.1,72,74,520/- and has raised demand of Rs.74,97,039/-.
4. The ld. First Appellate Authority had rejected assessee’s claim after holding as under:-
“5.7. On perusal of details, it is noticed that the appellant has submitted one approval of gratuity fund dtd, 23-4-1990. It is also noticed therein that the said certificate is issued in the name of "Technova Plate Making Systems Ltd. Employees Group Gratuity
Techno Imaging Sys (P) Ltd Employees Group Gratuity Cumla Scheme
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Scheme," but the instant appeal has been filed by the appeal viz.
TECHNOVA IMAGING SYS (P) LTD EMPLOEES GROUP GRATUITY
CUM L.A. SCHEME" i.e there is difference in the name of the appellant who has filed appeal and the person whose certificate dated 23.04.1990 has been furnished. The aforesaid fact is evident the screenshot of the said certificate dated 23.04.1990 is reproduced hereunder.
Techno Imaging Sys (P) Ltd Employees Group Gratuity Cumla Scheme
Thus, he held that assessee failed to substantiate the gratuity fund duly approved by the appropriate authority and accordingly, he has confirmed the payment alongwith interest levied by the CPC. 6. After hearing both the parties and on perusal of the facts and material on record, it is seen that there was a change in the company’s name from Techno Imaging Sys (P) Ltd. to Technova Imaging Systems for which copy of fresh certificate of incorporating was issued by the