CIT v. G.M. Knitting Industries (P.) Ltd.

376 ITR 456Supreme Court of India2015#404 most cited

What is CIT v. G.M. Knitting Industries (P.) Ltd. authority for?

The requirement to file a certificate or form (e.g., Form 10CCB, 10-IC) along with the return of income for claiming a deduction (e.g., under sections 80-IB, 115BAA) is directory regarding its timing. Such a deduction is allowable if the requisite form is filed before the final order of assessment, as procedural requirements should not override substantive benefits.

221

judgments rely on this decision, according to BharatTax’s citation analysis of 367,154 Indian tax judgments — from 2016 to 2026.

Also referred to as

CIT v. G.M. Knitting Industries · 376 ITR 456 · G.M. Knitting · Section 80-IB · Section 115BAA · Section 80JJAA · Section 10B · Form 10CCB · filing forms for deduction · timing of claim · procedural vs substantive benefits · assessment procedure · Supreme Court

Also reported as

71 Taxmann.com 35

Sections most often in play

Section 143(1)Section 139(1)Section 143(3)Section 250Section 80JJAASection 10BSection 119(2)(b)Section 154

Issues it is cited on

section 80j(6a)section 10b(8)section 80ia(7)section 80jjaasection 10basection 80jjasection 80jsection 288section 115baasection 10bsection 80a(5)additional depreciation

Judgments citing CIT v. G.M. Knitting Industries (P.) Ltd.

Universal Education Foundation, Mumbai vs. Asst DIT (E) II(2), Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 1097/MUM/2016[2011-12]Status: DisposedITAT Mumbai17 Jan 2024AY 2011-12

Bench: Shri Kuldip Singh, Hon’Ble & Shri S. Rifaur Rahman, Hon'Bleuniversal Education Foundation V. Assistant Director Of Income-Tax (Exemption) – Ii(2) 1St Floor, Filka Building Mumbai Daftary Road, Malad (W) Mumbai - 400097 Pan: Aabcu0516D (Appellant) (Respondent)

Section 11(1)Section 143(3)Section 254Section 254(2)

…he Bombay High Court in Shivanand Electronics (1994) 209 ITR 63 (Bom) (on filing of audit report u/s 80-J- new industrial undertaking incentive deduction), which in turn has been approved by the Supreme Court in CIT vs. G M. Knitting Industries (P) Ltd [2015] 376 ITR 456 (SC). In the Appellant's case, it has exercised its option in the course of assessment proceedings, therefore its exercise of option may be taken as compliant of the directory requirement of the law. Allowing the option so exercised would also be in good spirit. The CBDT has in its circular no. 14 of 1955 dated 11th April 1955 has held that when…

The Wanka Vividh Karyakari Seva Sahkari Mandali Ltd, Tapi vs. The Income Tax Officer, Ward2 Bardoli, Bardoli

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

ITA 470/SRT/2023[2017-18]Status: DisposedITAT Surat13 Oct 2023AY 2017-18

Bench: Shri Pawan Singhआ.अ.सं./Ita No.470/Srt/2023 (Ay 2017-18) (Hearing In Physical Court) The Wanka Vividh Karyakari Seva Income Tax Officer, Sahkari Mandali Ltd. Ward-2, Bardoli, Income Vs At & Po Wanka, Taluka-Nizar, Tax Office, 2Nd Floor, Bsnl Tapi-394370 Building, Opp. Jalaram Akshaymodi40@Gmail.Com Temple, Station Road, Pan No: Aahft 1009 K Bardoli-394601 अपीलाथ"/Appellant ""थ" /Respondent

Section 142(1)Section 144Section 254(1)Section 80PSection 80P(2)(a)

…sole reasons that the assessee failed to file return of income. To support his submissions, the Ld. AR for the assessee relied on the decision of Hon’ble Apex Court in the case of CIT vs. G.M. Knitting Industries (P.) Ltd. [2016] 71 taxmann.com 35 (SC)/[2015] 376 ITR 456 (SC)/[2015] 279 CTR 534 (SC) [24-07-2015] wherein it was held that filing of return of income is directly and not mandatory for claiming deduction under relevant Section of Chapter-VI-A (Section 80P). The making of claim because at the stage of assessment before completion of assessment, meets the directory requirement of making of claim in the r…

Wellman Coke India Limited, Kolkata vs. DCIT, Cir-5(1), Kol, Kolkata

In the result, the appeal of the assessee is allowed as per terms indicated hereinabove

ITA 444/KOL/2023[2018-19]Status: DisposedITAT Kolkata03 Oct 2023AY 2018-19

Bench: Dr. Manish Borad & Shri Sonjoy Sarma

Section 143(2)Section 143(3)Section 194ISection 2Section 250Section 50BSection 80I

…llant’s case wherein It has been held that if Form 10CCB is not filed within the due date for filing the return of income but filed in the course of assessment proceedings the assessee is entitled to deduction u/s.80IB. (i)CIT Vs GM Knitting Industries P Ltd (376 ITR 456 ) SC (ii) CIT Vs AKS Alloys P Ltd (18 Taxmann.com25) Mad HC (5) For these and other grounds that may be adduced before or at the time of hearing, the Income Tax Appellate Tribunal may be pleased to delete the disallowance of Long Term Capital Loss claimed of Rs.6,25,79,960/- 2 Wellman Coke India Limited 3. Facts in brief are that the assessee i…

ACIT Special Range-3, New Delhi vs. Delhi Tourism & Transportation Development Corporation Ltd., New Delhi

In the result, Appeal filed by the Department in ITA No

ITA 5922/DEL/2019[2016-17]Status: DisposedITAT Delhi14 Sept 2023AY 2016-17

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 43B

…ave considered the said Audit Report filed by the assessee and allow the deduction claimed by the Assessee u/s 80IA of the Act. This view of ours is fortified by the judgment of Hon'ble Supreme Court in the case of CIT Vs. M/S G. M. Knitting Industries Ltd. 376 ITR 456 (S.C.), wherein held that even though necessary certificate in Form No. 10CCB along with the return of income had not been filed but the same was made available to the A.O. before passing of final assessment order, the assessee is entitled to claim the deduction u/s 80IA of the Act, in view of the above ratio, we do not find any Page 34 of 52…

Addi. CIT Spl. Range-3, New Delhi vs. Delhi Tourism & Transportation Development Corporation Ltd., New Delhi

In the result, Appeal filed by the Department in ITA No

ITA 5920/DEL/2019[2011-12]Status: DisposedITAT Delhi14 Sept 2023AY 2011-12

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 43B

…ave considered the said Audit Report filed by the assessee and allow the deduction claimed by the Assessee u/s 80IA of the Act. This view of ours is fortified by the judgment of Hon'ble Supreme Court in the case of CIT Vs. M/S G. M. Knitting Industries Ltd. 376 ITR 456 (S.C.), wherein held that even though necessary certificate in Form No. 10CCB along with the return of income had not been filed but the same was made available to the A.O. before passing of final assessment order, the assessee is entitled to claim the deduction u/s 80IA of the Act, in view of the above ratio, we do not find any Page 34 of 52…

Delhi Tourism & Transportation Development Corporation Ltd., New Delhi vs. DCIT Circle-10(1), New Delhi

In the result, Appeal filed by the Department in ITA No

ITA 5509/DEL/2019[2011-12]Status: DisposedITAT Delhi14 Sept 2023AY 2011-12

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 43B

…ave considered the said Audit Report filed by the assessee and allow the deduction claimed by the Assessee u/s 80IA of the Act. This view of ours is fortified by the judgment of Hon'ble Supreme Court in the case of CIT Vs. M/S G. M. Knitting Industries Ltd. 376 ITR 456 (S.C.), wherein held that even though necessary certificate in Form No. 10CCB along with the return of income had not been filed but the same was made available to the A.O. before passing of final assessment order, the assessee is entitled to claim the deduction u/s 80IA of the Act, in view of the above ratio, we do not find any Page 34 of 52…

Delhi Tourism Transportation and Development Corporation Ltd., New Delhi vs. Addl.CIT, Special Range-3, New Delhi

In the result, Appeal filed by the Department in ITA No

ITA 5167/DEL/2019[2015-16]Status: DisposedITAT Delhi14 Sept 2023AY 2015-16

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 43B

…ave considered the said Audit Report filed by the assessee and allow the deduction claimed by the Assessee u/s 80IA of the Act. This view of ours is fortified by the judgment of Hon'ble Supreme Court in the case of CIT Vs. M/S G. M. Knitting Industries Ltd. 376 ITR 456 (S.C.), wherein held that even though necessary certificate in Form No. 10CCB along with the return of income had not been filed but the same was made available to the A.O. before passing of final assessment order, the assessee is entitled to claim the deduction u/s 80IA of the Act, in view of the above ratio, we do not find any Page 34 of 52…

Addl.CIT, Special Range-3, New Delhi vs. Delhi Tourism Transportation and Development Corporation Ltd., New Delhi

In the result, Appeal filed by the Department in ITA No

ITA 4737/DEL/2019[2015-16]Status: DisposedITAT Delhi14 Sept 2023AY 2015-16

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 43B

…ave considered the said Audit Report filed by the assessee and allow the deduction claimed by the Assessee u/s 80IA of the Act. This view of ours is fortified by the judgment of Hon'ble Supreme Court in the case of CIT Vs. M/S G. M. Knitting Industries Ltd. 376 ITR 456 (S.C.), wherein held that even though necessary certificate in Form No. 10CCB along with the return of income had not been filed but the same was made available to the A.O. before passing of final assessment order, the assessee is entitled to claim the deduction u/s 80IA of the Act, in view of the above ratio, we do not find any Page 34 of 52…

Addl.CIT, Special Range-3, New Delhi vs. Delhi Tourism Transportation and Development Corporation Ltd., New Delhi

In the result, Appeal filed by the Department in ITA No

ITA 4100/DEL/2019[2013-14]Status: DisposedITAT Delhi14 Sept 2023AY 2013-14

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 43B

…ave considered the said Audit Report filed by the assessee and allow the deduction claimed by the Assessee u/s 80IA of the Act. This view of ours is fortified by the judgment of Hon'ble Supreme Court in the case of CIT Vs. M/S G. M. Knitting Industries Ltd. 376 ITR 456 (S.C.), wherein held that even though necessary certificate in Form No. 10CCB along with the return of income had not been filed but the same was made available to the A.O. before passing of final assessment order, the assessee is entitled to claim the deduction u/s 80IA of the Act, in view of the above ratio, we do not find any Page 34 of 52…

Addl.CIT, Special Range-3, New Delhi vs. Delhi Tourism Transportation and Development Corporation Ltd., New Delhi

In the result, Appeal filed by the Department in ITA No

ITA 184/DEL/2019[2014-15]Status: DisposedITAT Delhi14 Sept 2023AY 2014-15

Bench: SHRI N. K. BILLAIYA (Accountant Member), SHRI YOGESH KUMAR U.S. (Judicial Member)

Section 43B

…ave considered the said Audit Report filed by the assessee and allow the deduction claimed by the Assessee u/s 80IA of the Act. This view of ours is fortified by the judgment of Hon'ble Supreme Court in the case of CIT Vs. M/S G. M. Knitting Industries Ltd. 376 ITR 456 (S.C.), wherein held that even though necessary certificate in Form No. 10CCB along with the return of income had not been filed but the same was made available to the A.O. before passing of final assessment order, the assessee is entitled to claim the deduction u/s 80IA of the Act, in view of the above ratio, we do not find any Page 34 of 52…

Jaquar and Company Private Limited, Delhi vs. DCIT, Central Circle-19, Delhi

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

ITA 1985/DEL/2022[2019-20]Status: DisposedITAT Delhi31 Aug 2023AY 2019-20

Bench: SHRI CHANDRA MOHAN GARG (Judicial Member), DR. B.R.R. KUMAR (Accountant Member)

For Appellant: Dr. Rakesh Gupta, AdvFor Respondent: Shri Vivek Vardhan, Sr. DR
Section 143(1)Section 80J

…claim made either in the return of income or in any manner before the conclusion of assessment proceedings, as is the case under consideration, would validate the entitlement. 11. The Hon'ble Supreme Court in CIT vs. G.M. Knitting Industries (P.) Ltd. (2015) 376 ITR 456 (SC) came across a situation in which the assessee claimed additional depreciation in Form 3AA but the Form was not furnished along with the return of income. Such Form was submitted during the course of assessment proceedings. The AO denied the claim on the ground that the Form 3AA was required to be statutorily filed along with the return of in…

Pratap Technocrats Private Limited, Jaipur vs. Principal Commissioner of Income Tax -1, Jaipur

In the result, appeal of the assessee is allowed

ITA 225/JPR/2023[2018-19]Status: DisposedITAT Jaipur18 Jul 2023AY 2018-19

Bench: The Date Of Hearing.”

For Appellant: Shri Rajeev Sogani (C.A.) &For Respondent: Shri Ajey Malik (CIT) a
Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 263Section 80J

…आयकर अपीलीय अधिकरण] जयपुर न्यायपीठ] जयपुर IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES,”B” JAIPUR Mk0 ,l- lhrky{eh] U;kf;d lnL; ,oa Jh jkBksM deys'k t;UrHkkbZ] ys[kk lnL; ds le{k BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;dj vihy la-@ITA. No. 225/JP/2023 fu/kZkj.k o"kZ@Assessment Years : 2018-19 cuke Pratap Technocrats Private Principal Commissioner of Limited Vs. Income Tax-1, Jaipur. B-21, Shakti Bhawan, Shivaji Godara Colony, Jaipur. LFkk;h ys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAICP 3621 R vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksj ls@ Assessee by : Shri R…

Jaihind Nagari Sahkari Patsanstha Maryadit, Nashik vs. Income Tax Officer, Ward- Malegaon, Nashik

In the result, the appeal filed by the assessee stands partly allowed for statistical purposes

ITA 135/PUN/2023[2017-18]Status: DisposedITAT Pune04 Jul 2023AY 2017-18

Bench: Shri Inturi Rama Raoआयकर अपील सं. / Ita No.135/Pun/2023 िनधा"रण वष" / Assessment Year : 2017-18 Jaihind Nagari Sahkari Vs. Ito, Ward-1, Malegaon. Patsanstha Maryadit, Main Road, Raunaqabad, Malegaon, Nashik- 423203. Pan : Aaaaj8229M Appellant Respondent Assessee By : Shri Sanket Joshi Revenue By : Shri Rajesh Gawali Date Of Hearing : 20.06.2023 Date Of Pronouncement : 04.07.2023 आदेश / Order Per Inturi Rama Rao, Am: This Is An Appeal Filed By The Assessee Directed Against The Order Of The National Faceless Appeal Centre, Delhi [‘Nfac’] Dated 28.11.2022 For The Assessment Year 2017-18. 2. Briefly, The Facts Of The Case Are That Appellant Is A Co- Operative Society Registered Under The Maharashtra Co-Operative Societies Act, 1960. It Is Engaged In The Business Of Providing Credit Facilities To Its Members & Accepting The Deposits From Its Members. The Return Of Income For The Assessment Year 2017-18

For Appellant: Shri Sanket JoshiFor Respondent: Shri Rajesh Gawali
Section 1Section 139Section 139(1)Section 139(4)Section 142Section 143(3)Section 148Section 80A(5)Section 80CSection 80P

…claim made either in the return of income or in any manner before the conclusion of assessment proceedings, as is the case under consideration, would validate the entitlement. 11. The Hon'ble Supreme Court in CIT vs. G.M. Knitting Industries (P.) Ltd. (2015) 376 ITR 456 (SC) came across a situation in which the assessee claimed additional depreciation in Form 3AA but the Form was not furnished along with the return of income. Such Form was submitted during the course of assessment proceedings. The AO denied the claim on the ground that the Form 3AA was required to be statutorily filed along with the return of in…

Rt Vision Technologies Pvt. Ltd., Delhi vs. ACIT Circle 20(2), Delhi

In the result, the appeal of the assessee is allowed

ITA 274/DEL/2022[2019-20]Status: DisposedITAT Delhi13 Jun 2023AY 2019-20

Bench: Shri Chandra Mohan Garg & Shri Pradip Kumar Kedia

For Appellant: Shri Sidharth Arora, CAFor Respondent: Shri Anuj Garg, Sr.DR
Section 139(1)Section 143(1)Section 36(1)Section 36(1)(va)Section 80Section 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “G” DELHI BEFORE SHRI CHANDRA MOHAN GARG, JUDICIAL MEMBER & SHRI PRADIP KUMAR KEDIA, ACCOUNTANT MEMBER I.T.A. No.274/DEL/2022 Assessment Year 2019-20 RT Vision Technologies Pvt. Ltd., Vs. ACIT 131/8 Krishna Nagar Safdarjung Circle-20(2) Enclave, Delhi Delhi. TAN/PAN: AACCR4395J (Appellant) (Respondent) Appellant by: Shri Sidharth Arora, CA Respondent by: Shri Anuj Garg, Sr.DR Date of hearing: 07 06 2023 Date of pronouncement: 13 06 2023 O R D E R PER PRADIP KUMAR KEDIA, A.M.: The captioned appeal has been filed by the assessee against the order of the ld. Co…

Wilson Engineering Industries(P)Ltd, Kolkata vs. DCIT, Bangalore

In the result, the appeal of the assessee is allowed

ITA 389/KOL/2023[2017-18]Status: DisposedITAT Kolkata12 Jun 2023AY 2017-18

Bench: Dr. Manish Borad & Shri Sonjoy Sarma]

Section 139(1)Section 143(1)Section 80I

…produced all necessary documents before us to prove the fact that return of income was filed within the time as prescribed u/s 139(1) of the Act and placed reliance on the decision of Hon’ble Apex Court in the case of CIT vs G.M. Knitting Industries (P) Ltd. 376 ITR 456 wherein it has been held that when Form No. 10CCB is not filed with the return of income but it is filed before passing of assessment order, then in that case, the claim of deduction cannot be denied. In such circumstances, the claim made by assessee cannot be denied. Accordingly, we set aside the impugned order passed by the ld. CIT(A) and direc…

Canadian Speciality Vinyls, New Delhi vs. ITO Ward - 63(4), New Delhi

In the result, the appeal of the assessee is partly allowed

ITA 7612/DEL/2019[2015-16]Status: DisposedITAT Delhi02 Jun 2023AY 2015-16

Bench: Shri Chandra Mohan Garg & M.Balaganeshassessment Year: 2015-16 M/S. Canadian Specialty Vinyls Ito Ward-63(4), Delhi 110055 49, Rani Janshi Road, Jhandewalan, New Delhi 110055 Vs. Pan Aagfc 0200 J

For Appellant: Shri Shaantanu Jain, AdvFor Respondent: Ms. Maimum Alam, Sr. DR
Section 2Section 801CSection 80I

…he prescribed time limit u/s 139(1) of the Act, due to the illness of executive partner of assessee company Shri Anil Mahajan, would be governed by the judgement of the Hon’ble Supreme Court in the case of CIT vs. GM Knitting Industries Pvt. Ltd., reported as 376 ITR 456 (SC), wherein it has been held that filing of the return for making of a claim under Chapter VI-A of the Act is mandatory, but, compliance of timing is directory. Therefore, even if the claim is made during the period of assessment proceedings, such claim u/s. 80IC of the Act, has to be allowed. 11. Replying to the above, the ld. Senior DR suppor…

Ambience Holiday Resorts Ltd, New Delhi vs. DCIT Circle-2(2), New Delhi

In the result, appeal of assessee is partly allowed

ITA 1820/DEL/2020[2018-19]Status: DisposedITAT Delhi15 May 2023AY 2018-19

Bench: Sh. Anil Chaturvedi & Sh. Anubhav Sharmaambience Holiday Resorts Vs. Dcit Ltd., Circle – 2(2) Hs 24, Kailash Colony New Delhi Market, New Delhi-110048 Pan No. Aadca 5494 Q (Appellant) (Respondent) Assessee By Shri Yogendra Singh, C.A. Revenue By Shri Kanv Bali, Sr. D.R. Date Of Hearing: 09.05.2023 Date Of Pronouncement: 15.05.2023

Section 143(1)Section 80I

…43(1) of the Act, therefore, assessee could not be denied the benefit of deduction u/s 80IC of the Act. In support of his contentions, he also placed reliance on the decision of Hon’ble Apex Court in the case of G. M. Knitting Industries Pvt. Ltd. reported in 376 ITR 456 (SC). He further placed reliance on the decision of Delhi Tribunal in the case of ACIT vs. Green dot Health Foods Pvt. Ltd. (ITA No.8414/Del/2019) order dated 09.02.2023. He also placed on record the copy of the aforesaid decisions. He therefore submitted that since the assessee has filed the form 10CCB before the completion of assessment, the as…

ACIT Circle-7(2), New Delhi vs. Manish Sabharwal, Chandigarh

In the result, the appeal of the Revenue is dismissed

ITA 8528/DEL/2019[2011-12]Status: DisposedITAT Delhi19 Apr 2023AY 2011-12

Bench: Shri Shamim Yahya & Ms. Astha Chandraasstt. Year: 2011-12

For Appellant: Shri Deepak Suneja, CAFor Respondent: Shri Anil Kumar Sharma, Sr. DR
Section 143(1)Section 143(3)Section 144ASection 147Section 148Section 80Section 801CSection 80I

…d Form 10CCB alongwith letter dated 15.10.2018 and audited unit-wise final accounts. If that be so, the assessee’s case is fully covered in favour of the assessee by the decision of the Hon’ble Supreme Court in CIT vs. G.M. Knitting Industries (P) Ltd. (2015) 376 ITR 456 (SC) as also by the decision of the Hon’ble Delhi High Court in CIT vs. Centimeters Electricals Pvt. Ltd. 317 ITR 249 (Delhi). 10. We, therefore, for the reasons set out above decline to interfere and finding no substance in the appeal of the Revenue reject the same. 11. In the result, the appeal of the Revenue is dismissed. Order pronounced…

Marudhamalai Sre Dhandapani Spinning Mills, Karamadai vs. DCIT, CPC, Bangalore

In the result, appeal filed by the assessee is allowed

ITA 11/CHNY/2023[2017-18]Status: DisposedITAT Chennai06 Apr 2023AY 2017-18

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपील सं./Ita No.: 11/Chny/2023 िनधा"रण वष" / Assessment Year: 2017-18 Marudhamalai Sri Dhandapani Deputy Commissioner Of Spinning Mills, V. Income Tax, 142B Bettathapuram Pudur, Centralized Processing Centre, Karmadai Post – 641 104. Bengaluru – 560 500. [Pan: Aagfm-4590-F] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Respondent: Shri. P. Sajit Kumar, JCIT
Section 1Section 139(1)Section 143Section 143(2)(a)Section 44ASection 80Section 80I

…o have considered audit report filed by the assessee in Form no. 10CCB and allow deduction claimed u/s. 80IA of the Act. This legal proposition is supported by the decision of Hon’ble Supreme Court in the case of CIT vs GM Knitting Industries Pvt Ltd., [2015] 376 ITR 456 (SC), where it has been clearly held that even though necessary certificate in Form no. 10CCB along with return of income had not been filed, but same was filed before the final order of assessment was made, the assessee was entitled to claim deduction u/s. 80IA of the Act. A similar issue had been considered by the Hon’ble Madras High Court in t…

Principal Commissioner of Income Tax Central 1 Kolkata vs. M/S Surendra Steels Pvt Ltd

In the result, the appeal fails and the substantial question of law is

ITAT/23/2023HC Calcutta03 Apr 2023

Bench: : The Hon’Ble Acting Chief Justice T.S. Sivagnanam & The Hon’Ble Justice Hiranmay Bhattacharyya Date : 3Rd April, 2023 Appearance : Mr. Soumen Bhattacharjee, Adv. ….For Appellant Mr. Subash Agarwal, Adv. …For Respondent The Court : This Appeal Filed By The Revenue Under Section 260A Of The Income Tax Act, 1961 (The Act) Is Directed Against The Order Dated 20Th May, 2022 Passed By The Income Tax Appellate Tribunal, `B’ Bench, Kolkata In Ita No.78/Kol./2022 For The Assessment Year 2019-20. The Revenue Has Raised The Following Substantial Question Of Law For Consideration : - “Whether The Learned Income Tax Appellate Tribunal Has Committed Substantial Error In Law In Deleting The Addition Made On Account Of Disallowance Of Deduction Under Section 80-Ic Of The Act ? ”

Section 260ASection 80

…10CCB along with the Return can be a ground to deny the benefit of the deduction under Section 80-IC of the Act. The learned Tribunal, in our view, rightly took note of the decision of the Hon’ble Supreme Court in C.I.T vs. G.M. Knitting Industries Pvt. Ltd., 376 ITR 456 and held that a mere procedural irregularity is not fatal to claim deduction under Section 80-IC of the Act. In the case of M/s. Winro Commercial (India) Ltd. vs. Principal Commissioner of Income Tax-1 and Anr., ITAT 237 of 2022, dated 22nd November, 2022, this Court had considered the similar issue where the assessee failed to attach the audit r…