ARUS PROPERTIES LLP,,KOLKATA vs. D.C.I.T., EXEMPT - 1, CIRCLE - 1(1),, KOLKATA

ITA 533/KOL/2025Status: DisposedITAT Kolkata31 October 2025AY 2023-2024Bench: Shri Duvvuru RL Reddy, Vice-President (KZ), Shri Rajesh Kumar (Accountant Member)5 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the revenue authorities erred in not considering the correct due date for filing the return for an LLP, which is September 30th as per the LLP Act. Since the assessee filed its return before this due date, it is entitled to carry forward the business loss.

What were the facts?

The assessee, a Limited Liability Partnership (LLP), filed its income tax return declaring a business loss. The CPC processed the return and disallowed carrying forward this loss, stating the return was filed beyond the due date. The CIT(Appeals) upheld this decision.

What were the issues?

Whether the assessee-LLP is entitled to carry forward business loss when the return was filed before the due date as per the LLP Act, despite the revenue authorities considering a different due date.

Which sections of the Income-tax Act were involved?

Section 71,Section 72,Section 139(2),Section 132(9)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘A’ BENCH, KOLKATA

Before: Shri Duvvuru RL Reddy, Vice-(KZ) & Shri Rajesh Kumar

Per Duvvuru RL Reddy, Vice-President (KZ):- The present appeal is directed at the instance of assessee against the order of ld. Additional /Joint Commissioner of Income Tax (Appeals)-1, Mumbai dated 27th January, 2025 passed for assessment year 2023-24. 1 Arus Properties LLP

2.

Brief facts of the case are that the appellant-assessee is a Limited Liability Partnership. As per the LLP Act, 2008, the appellant maintains regular books of account and s

The order continues below.

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