ASIRVAD MICRO FINANCE LIMITED,ANNA SALAI vs. ASST. DIRECTOR OF INCOME TAX, CPC, BENGALURU

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ITA 486/CHNY/2024Status: DisposedITAT Chennai03 July 2024AY 2021-22Bench: HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL (Accountant Member)2 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found the CIT(A)'s order deficient as it did not adjudicate all the grounds. Therefore, the impugned order was set aside, and the CIT(A) was directed to re-adjudicate all issues afresh.

What were the facts?

The assessee's appeal for AY 2021-22 concerns an intimation under section 143(1) where the CPC made adjustments under sections 41 and 43B. The primary issue is that the CIT(A) failed to adjudicate most of the grounds raised by the assessee.

What were the issues?

Whether the CIT(A) properly adjudicated all grounds of appeal, and if not, whether the order is deficient. The issue also involves adjustments made by CPC under sections 41 and 43B.

Which sections of the Income-tax Act were involved?

Section 143(1),Section 41,Section 43B

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH, CHENNAI

Before: HON’BLE SHRI MAHAVIR SINGH, VP & HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM

आयकर अपीलीय अिधकरण “ए” �ायपीठ चे�ई म�। IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, CHENNAI माननीय �ी महावीर िसंह, उपा ! एवं माननीय �ी मनोज कुमार अ%वाल ,लेखा सद( के सम!। BEFORE HON’BLE SHRI MAHAVIR SINGH, VP AND HON’BLE SHRI MANOJ KUMAR AGGARWAL, AM आयकरअपील सं./ (िनधा)रण वष) / Assessment Year: 2021-22) M/s. Asirvad Micro Finance Limited DCIT बनाम/ 9, 9th floor, Club House Road, Corporate Circle-1(1) Vs. Anna Salai, Chennai-600 002. Chennai. �थायीलेखासं./जीआइआरसं./PAN/GIR No. AAGCA-5275-J (अपीलाथ�/Appellant) : (� थ� / Respondent) अपीलाथ�कीओरसे/ Appellant by : Shri Srihari Bandla (CA) - Ld.AR � थ�कीओरसे/Respondent by : Shri Nilay Baran Som (CIT) -Ld. DR सुनवाईकीतारीख/Date of Hearing : 24-06-2024 घोषणाकीतारीख /Date of Pronouncement : 03-07-2024 आदेश / O R D E R Manoj Kumar Aggarwal (Accountant Member)

1.Aforesaid appeal by assessee for Assessment Year (AY) 2021-22 arises out of the order of learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi [CIT(A)] dated 27-12-2023 in the matter of an intimation issued by CPC u/s 143(1) of the Act on 13-11-2022. In the intimation, CPC made various adjustments / additions u/s 41 & 43B. The main grievance of the assessee is that the impugned order is deficient since most of the grounds as urged by the assessee have not been adjudicated.

2.

The Ld. AR submitted that CPC made adjustment u/s 41 for Rs.10.99 Crores which was already been offered to tax by the assessee. The CPC also disallowed gratuity, Leave encashment and Bonus for Rs.114.30 Lacs, Rs.225.79 Lacs & Rs.16.01 Lacs respectively. Though these grounds were raised by the assessee, the same has not been adjudicated by Ld. CIT(A). The revenue could not controvert the same.

3.

Since the grounds urged by the assessee has not been adjudicated by Ld. CIT(A) and the impugned order is deficient, we set aside the impugned order and direct Ld. CIT(A) to adjudicated all the issues afresh. The assessee is directed to substantiate the same. 4. The appeal stand allowed for statistical purposes. Order pronounced on 3rd July, 2024 Sd/- Sd/- (MAHAVIR SINGH) (MANOJ KUMAR AGGARWAL) उपा45 / VICE PRESIDENT लेखा सद7 / ACCOUNTANT MEMBER चे9ई Chennai; िदनांक Dated :03-07-2024 DS आदेशकीHितिलिपअ%ेिषत/Copy of the Order forwarded to : 1. अपीलाथ�/Appellant 2. � थ�/Respondent 3. आयकरआयुA/CIT Chennai. 4. िवभागीय�ितिनिध/DR 5. गाडFफाईल/GF

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