Loading judgment…
No AI summary yet for this case.
Income Tax Appellate Tribunal, CHANDIGARH BENCHES ‘B’, CHANDIGARH
Before: SHRI SANJAY GARG& Ms. ANNAPURNA GUPTA
Per Sanjay Garg, Judicial Member:
The present appeal has been preferred by the Revenue against the order dated 29.09.2017 of the Commissioner of Income Tax (Appeals), [hereinafter referred to as CIT(A)]-4, Ludhiana.
The Revenue is aggrieved by the action of the CIT(A) in deleting the addition of Rs. 2,45,00,000/- which was made by the Assessing officer for not filing Form No.10 along with return of income and thereby not treating the accumulation of amount of Rs.
ITA No. 1660/Chd/2017- M/s Acharya Shri Ram Atma Jain, Samarak Simiti 2 2,45,00,000/- as being application of income as provided u/s 11(2) of
the Income-tax Act, 1961 (in short 'the Act').
At the outset, Ld. Counsel for the assessee has brought our
attention to the assessment order and submitted that impugned
additions have been made by the Assessing officer while processing
the return of income u/s 143(1) of the Act. The Ld. counsel has
further invited our attention to the relevant findings of the CIT(A),
wherein, the Ld. CIT(A) has categorically given finding that Form 10
was filed by the assessee alognwith the return of income. However,
the same could not be e-filed / uploaded due to certain reasons but
could be uploaded after due date of filing of return. The assessee
also furnished the relevant evidence of furnishing the form No.10
before the CIT(A) also. The CIT(A) who is having powers that are
co-terminus with that of the Assessing officer observed that form
No.10 can be filed even during the assessment proceedings also. The
observation of the CIT(A), in our view, is as per the settled
proposition of law in the light of the judicial decisions on this issue.
The Ld. counsel, has further submitted that though the
Assessing officer was not supposed to make the addition u/s 143(1)
of the Act while processing the return as the issue relating to
disallowance over the additions for belated filing of form No.10 was
a debatable issue, which could have been decided by the Assessing
officer only during regular assessment proceedings u/s 143(3) of the
Act.
ITA No. 1660/Chd/2017- M/s Acharya Shri Ram Atma Jain, Samarak Simiti 3
The Ld. CIT(A) after considering the settled position of law and
having jurisdiction and powers co-terminus with that of the Assessing
officer has rightly held that the assessee had sufficiently made
compliance to the provisions of section 11(2) of the Act.
The Ld. DR could not point out any distinguishing point either
on fact or law in the order of the CIT(A) in this respect. We,
therefore, do not find any merit in the appeal of the Revenue and the
same is hereby dismissed.
Order pronounced in the Open Court
Sd/- Sd/- (ANNAPURNA GUPTA) (SANJAY GARG) ACCOUNTANT MEMBER JUDICIAL MEMBER Dated :18.04.2018 Rkk Copy to: 1. The Appellant 2. The Respondent 3. The CIT 4. The CIT(A) 5. The DR