GRP LIMITED ,MUMBAI vs. DY. COMMISSIONER OF INCOME TAX , CIRCLE 14(1)(2), MUMBAI
Income Tax Appellate Tribunal, G” BENCH, MUMBAI
Per Rahul Chaudhary, Judicial Member: 1. The present appeal has been preferred by the Assessee against the order, dated 19/07/2024, passed by the National Faceless Appeal Centre (NFAC), Delhi,[hereinafter referred to as ‘the CIT(A)’] under Section 250 of the Income Tax Act, 1961 [hereinafter referred to as ‘the Act’] whereby the Ld. CIT(A) had dismissed the appeal against the Assessment Order, dated 12/04/2021, 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. Erred in holding that the deduction u/s.35(2AB) for Assessment Year: 2018-2019
expenditure incurred at the in house Research and Development Centre of the appellant must be capped at the amount certified by the DSIR in form 3CL and hence disallowed a sum of Rs.32,91,021. 2. Without prejudice, erred in not allowing the said expenditure of Rs.21,94,004 u/s. 37(1) as it was nonetheless an expense incurred for the running business of the appellant even if not entitled to a weighted deduction. This plea was raised before him was not adjudicated though details of the said expenditure were also provided.”
When the appeal was taken up for hearing the Learned Authorised Representative for the Appellant/Assessee submitted that the Appellant/Assessee has filed application under the ‘The Direct Tax – Vivad Se Vishwas Scheme, 2024’ opting for settlement and has received the Certificate in Form 2 [Acknowledgement Number 898854431110325]. In view of the aforesaid, as requested by the Appellant/Assessee, the the present appeal is dismissed as withdrawn.
Order pronounced on 27.03.2025. (Vikram Singh Yadav)
Accountant Member
मुंबई Mumbai; िदनांकDated :27.03.2025. Milan, LDC
Assessment Year: 2018-2019
आदेशकीŮितिलिपअŤेिषत/Copy of the Order forwarded to :
अपीलाथŎ/ The Appellant 2. ŮȑथŎ/ The Respondent. 3. आयकरआयुƅ/ The CIT 4. Ůधान आयकर आयुƅ/ Pr.CIT 5. िवभागीयŮितिनिध, आयकरअपीलीयअिधकरण, मुंबई/ DR, ITAT, Mumbai 6. गाडŊफाईल / Guard file.
आदेशानुसार/ BY ORDER,
सȑािपतŮित ////
उप/सहायकपंजीकार /(Dy./Asstt.