KEDIA OVERSEAS PRIVATE LIMITED,HYDERABAD vs. DCIT., CIRCLE-2(1), HYDERABAD

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ITA 1081/HYD/2024Status: DisposedITAT Hyderabad13 November 2024AY 2021-22Bench: SHRI LALIET KUMAR (Judicial Member), SHRI MADHUSUDAN SAWDIA (Accountant Member)4 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal noted that the lower appellate authority failed to consider the relevant CBDT circular. Therefore, the case was remanded back to the lower appellate authority to verify the applicability of the circular and pass a fresh order.

What were the facts?

The assessee was denied the benefit of Section 115BAA because Form 10-IC was not filed by the due date. The assessee's appeal was dismissed by the lower appellate authority without considering a CBDT circular that extended the due date for filing Form 10-IC.

What were the issues?

Whether the assessee is eligible for the benefit of Section 115BAA when Form 10-IC was filed late, and if a subsequent CBDT circular can be considered for condoning the delay.

Which sections of the Income-tax Act were involved?

Section 115BAA,Section 143(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, Hyderabad ‘B’ Bench, Hyderabad

Before: SHRI LALIET KUMAR & SHRI MADHUSUDAN SAWDIA

Hearing: 12/11/2024

आदेश/ORDER PER MADHUSUDAN SAWDIA, A.M.: This appeal is filed by M/s. Kedia Overseas Pvt. Ltd., Hyderabad (“the assessee”), feeling aggrieved by the order passed by the Learned Addl./JCIT(A), Mysore (“Ld. Addl./JCIT (A)”), dated 29.08.2024 for the AY 2021-22. 2. At the outset, the Learned Authorised Representative (“Ld. AR”) submitted that Central Processing Centre (“CPC”) vide their intimation u/s.143(1) of the Income Tax Act, 1961 (“the Act”) dated 13.11.2022 not allowed the benefit available u/s.115BAA to the assessee, due to the reason that the required Form no.10 IC was not filed within the specified due date. The assessee also did not succeed in appeal before the Ld. Addl./JCIT (A).

3.

Aggrieved with the order of Ld. Addl./JCIT (A), the assessee is in appeal before us. The Ld. AR submitted that the CBDT vide Circular no.19/2023 dated 23.10.2023(“impugned circular”) extended the due date of filing of Form no.10 IC for A.Y. 2017-18. However, the Ld. Addl./JCIT (A) dismissed the appeal of the assessee without considering the impugned circular. Therefore, relying on the impugned circular she prayed before the bench to allow her appeal.

4.

Per contra, the Learned Department Representative (“Ld. DR”) relied on the order of Ld. Addl./JCIT (A) and reiterated to dismiss the appeal of the assessee.

5.

We have heard the rival contentions and also gone through the record in the light of the submissions made on either side. There is no dispute about the fact that the CBDT has issued the impugned circular with an intention to extend the due date of filing of Form no.10 IC subject to fulfilment of certain conditions by the assessee. It is also a fact that the said circular has not been considered by the Ld. Addl./JCIT (A) before passing the order. Therefore we remand back the issue to the file of Ld. Addl./JCIT (A) with a direction to verify the applicability of the impugned circular to the case of the assessee and pass a suitable order as per law. It is needless to mention that a proper opportunity of being heard to the assessee. Accordingly the grounds are answered.

6.

In the result, the appeal of the assessee is allowed for statistical purposes.

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