M/S GOBIND INDUSTRIES,LUDHIANA vs. AACIT/DCIT,CIRCLE-VI, LUDHIANA
1
IN THE INCOME TAX APPELLATE TRIBUNAL
“B” BENCH, CHANDIGARH
PHYSICAL HEARING
BEFORE HON’BLE SHRI LALIET KUMAR, JM
AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM
आयकरअपीलसं./ ITA No.240/CHANDI/2024
(िनधाŊरणवषŊ / Assessment Year: 2019-20)
M/s Govind Industries
374 Industrial Area A Ludhiana-141003
बनाम/ Vs.
ADIT / ITO
CPC Banglore-560500
̾थायीलेखासं./जीआइआरसं./PAN/GIR No.AAAFG-9364-K
(अपीलाथŎ/Appellant)
:
(ŮȑथŎ / Respondent)
अपीलाथŎकीओरसे/ Appellant by :
Shri S. K. Mukhi (Advocate ) – Ld. AR
ŮȑथŎकीओरसे/Respondent by :
Shri Vivek Vardhan (Addl. CIT) – Ld. Sr. DR
सुनवाईकीतारीख/Date of Hearing
:
04-06-2025
घोषणाकीतारीख /Date of Pronouncement
:
09-06-2025
आदेश / O R D E R
Manoj Kumar Aggarwal (Accountant Member)
Aforesaid appeal by assessee for Assessment Year (AY) 2019-20 arises out of an order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Central (NFAC), Delhi [CIT(A)] dated 16-01-2024 in the matter of an intimation issued by CPC u/s 143(1) of the Act on 06-03-2020 wherein CPC made adjustment of late payment of PF / ESI for Rs.13.31 Lacs invoking the provisions of Sec.36(1)(va). The Ld. CIT(A) confirmed the same by following the 2
decision of Hon’ble Apex Court in Checkmate Services P. Ltd Vs. CIT
(2022) 143 Taxmann.com 178 (SC). The assessee made an alternative claim of set-off of brought forward unabsorbed losses against the assessed income which was also rejected by Ld. CIT(A) on the ground that fresh claim could only be made by filing revised return of income. Aggrieved, the assessee is in further appeal before us.
2. From assessee’s computation of income for this year, it is clear that the assessee has brought forward business losses for Rs.100.35
Lacs out of which the assessee set-off the same to the extent of computed business income of Rs.27.18 Lacs. The assessee has carried forward the remaining business loss of Rs.73.17 Lacs. The impugned adjustment has resulted into increased business income for the assessee which could be set-off against available business loss which is quite sufficient to cover the impugned adjustment. Therefore, we direct Ld. AO to allow further set-off of brought forward losses to the extent of impugned adjustment as made by CPC and revise the figures of losses which would be carried forward by the assessee in subsequent years. No other material ground has been urged in the appeal.
3. The appeal stand partly allowed in terms of our above order.
Order pronounced on 09-06-2025. (LALIET KUMAR) (MANOJ KUMAR AGGARWAL)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Dated: 09-06-2025. 3
आदेश की Ůितिलिप अŤेिषत /Copy of the Order forwarded to :
1. अपीलाथŎ/Appellant
2. ŮȑथŎ/Respondent
3. आयकरआयुƅ/CIT
4. िवभागीयŮितिनिध/DR
5. गाडŊफाईल/GF