DHANOA ENTERPRISES PRIVATE LIMITED,SIRHIND vs. INCOME TAX OFFICER, , SIRHIND
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.657/CHANDI/2024
(िनधाŊरणवषŊ / Assessment Year: 2013-14)
M/s Dhanoa Enterprises Private Limited
Showroom No 7-A Naina Commercial Complex
Chandigarh Road, Sirhind-140406
बनाम/
Vs.
ITO
Ward
Sirhind
̾थायीलेखासं./जीआइआरसं./PAN/GIR No.AACCD-8148-H
(अपीलाथŎ/Appellant)
:
(ŮȑथŎ /
Respondent)
अपीलाथŎकीओरसे/ Appellant by : Shri Virender Gupta (CA) – Ld. AR
ŮȑथŎकीओरसे/Respondent by :
Shri Vivek Vardhan (Addl. CIT) – Ld. Sr. DR
सुनवाईकीतारीख/Date of Hearing
:
03-06-2025
घोषणाकीतारीख /Date of Pronouncement
:
आदेश / O R D E R
Manoj Kumar Aggarwal (Accountant Member)
Aforesaid appeal by assessee for Assessment Year (AY) 2013-14 arises out of an order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Central (NFAC), Delhi [CIT(A)] dated 28-03-2024 in the matter of an assessment framed by Ld. Assessing Officer [AO] u/s. 143(3) of the Act on 19-12-2018. The Ld. AR seeks benefit of CBDT Circular No.11/2019 dated 19-06-2019. 2
Having heard rival submissions and upon perusal of case records, the appeal is disposed-off as under.
2. In the assessment year, the commission income of Rs.11 Lacs was brought to tax u/s 68 r.w.s. 115BBE of the Act. Consequently, the depreciation and interest expenses as claimed by the assessee were disallowed and the income was determined at Rs.26.71 Lacs. The matter reached up-to Tribunal vide ITA No.290/Chd/2019 wherein the matter was restored back to Ld. CIT(A). The Ld. CIT(A) passed an order on 28-03-2024 which is in further appeal before us.
3. During second round before Ld. CIT(A), the assessee sought set- off of brought forward business losses in terms of CBDT Circular
No.11/2019 dated 19-06-2019. However, Ld. CIT(A) confirmed the assessment against which the assessee is in further appeal before us.
4. We find that CBDT Circular No.11/2019 dated 19-06-2019 has clarified as under: -
4. Thus keeping the legislative intent behind amendment in section 115BBE(2) vide the Finance Act, 2016 to remove any ambiguity of interpretation, the Board is of the view that since the term 'or set off of any loss' was specifically inserted only vide the Finance Act
2016, w.e.f. 01.04.2017, an assessee is entitled to claim set-off of loss against income determined under section 115BBE of the Act till the assessment year 2016-17. Considering the same, we direct Ld. AO to allow set-off of losses against impugned additions / adjustments. It also appear that the income has not been computed correctly. The Ld. AO is directed to compute the correct income of the assessee. The assessee is directed to provide the computations. No other ground has been urged in the appeal.
The appeal stand partly allowed.
Order pronounced on 09-06-2025. (LALIET KUMAR) (MANOJ KUMAR AGGARWAL)
JUDICIAL MEMBER ACCOUNTANT MEMBER
Dated: 09-06-2025. 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