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TMI Blog2020 (3) TMI 337X X X X Extracts X X X X X X X X Extracts X X X X ..... of CIT(A) is not in tune with the provisions of section 250(6) of the Act and therefore, should be unacceptable. Therefore, we are of the opinion the matter should be remanded to the file of CIT(A) for re-adjudication of the issues and direct the CIT(A) to pass a speaking order attending to the aforesaid discrepancies with reference to the claim of deduction u/s 80IB(10) of the Act, on one side and requirement of filing the return on the other side or change in accounting method, as the case may be. The CIT(A) shall give reasonable opportunity of hearing to the assessee while re-adjudicating the aforesaid issues. Thus, the grounds raised by Revenue are allowed for statistical purposes. - ITA No.1794/PUN/2017 - - - Dated:- 5-3-2020 - Shri D. Karunakara Rao, Accountant Member And Shri S.S. Viswanethra Ravi, Judicial Member For the Assessee : S/Shri Ajay Singh / Deepak Sasar For the Revenue : Shri Deepak Garg ORDER PER D. KARUNAKARA RAO, AM : This appeal filed by the Revenue is directed against the order of Commissioner of Income Tax (Appeals)-3, Pune, dated 05.12.2016 for the Assessment Year 2011-12. 2. This is case of Revenue‟s app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d accounts, based on which regular return was filed u/s 139(1) of the Act. Referring to Form No.10CCB which is filed in support of the claim of deduction u/s 80IB(10) of the Act in the revised return of income, ld. DR submitted this is full of discrepancies in figures as well as blanks or filled in manually by the assessee. Referring to the dates and figures appearing in Form No.10CCB, ld. DR submitted this report was made prior to the finalization of accounts. How the Form No.10CCB is signed without finalizing the financial statement? On the correctness of the claim u/s 80IB(10) of the Act, ld. DR mentioned the claim is rightly rejected by the Assessing Officer. Criticizing the order of First Appellate Authority, ld. DR mentioned all the above discrepancies were never considered by the CIT(A) while granting relief to the assessee. The order of CIT(A), according to him, is not a speaking order and that requires re-adjudication of the issues. 4. Per contra, ld. AR relied on the written submissions and the same are extracted as under:- Brief proposition: 1. The return Form if filed electronically which is signed verified by assessee as well as duly certified ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... In favour of assessee] Monarch Innovative Technologies (P.) Ltd v ACIT [2018] 91 taxmann.com 267 (Mumbai - Trib.) B. Claiming deduction under section 80-IB, only condition is that original return should be filed in time - Said claim need not necessarily be made in original return and it can be made subsequent thereto also, even before appellate authority. Parmeshwar Cold Storage (P.) Ltd. v. Assistant Commissioner of Income-tax [2011] 8 ITR (T) 172 / 49 SOT 67 (Ahmedabad)(URO) 5. Section 80A of the Act reads as under: Section 80A(5) - Where the assessee fails to make a claim in his return of income for any deduction under section 10A or section 10AA or section 10B or section 10BA or under any provision of this Chapter under the heading C. - Deductions in respect of certain incomes , no deduction shall be allowed to him thereunder. 6. The Assessee complied Section 80A(5) as well as 80AC of the Act: The assessee filed the original return within the provision u/s 139(1) in time, the revised return filed u/s 139(5) in time. The claim in return as per section 80A(5) means the claim made in the original return or revise return filed within the t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vised return - Assessment year 2005-06 - For relevant year, assessee filed return under section 139(1) declaring certain taxable income - Subsequently, assessee filed revised return under section 139(5) raising a claim for carry forward of speculation loss - Assessing Officer disallowed said claim on ground that same was not raised in original return but in revised return - Tribunal took a view that once a return was revised under section 139(5) within time prescribed, original return filed under section 139(1) would not survive - Accordingly, Tribunal allowed assessee's claim for carry forward of speculation loss - Whether order passed by Tribunal was to be upheld - Held, yes [Para 6] [In favour of assessee] PCIT v. Babubhai Ramanbhai Patel (2017) 249 Taxman 470 (Guj.) (HC) G. Whether date of furnishing of return of income under section 139 would safely encompass within its sweep, time limit provided for filing of 'return of income' by assessee under section 139(4) as well as revised return filed by him under section 139(5) - Held, yes -[Paras 8 and 10] [In favour of assessee] Rajendra Pal Verma, v. ACIT (2019) 176 ITD 211 (Mum) (Trib.) H. W ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e reasons for accepting patent discrepancies appeared in the Profit and Loss Accounts and statement of accounts, dates in the audit reports, etc. No reason is given for the anti-dated Form No.10CCB. Further, no details are given for justifying the differences in the sales figure, no reasons are given for accepting change in method of accounting. In our opinion, such an order of CIT(A) is not in tune with the provisions of section 250(6) of the Act and therefore, should be unacceptable. Therefore, we are of the opinion the matter should be remanded to the file of CIT(A) for re-adjudication of the issues and direct the CIT(A) to pass a speaking order attending to the aforesaid discrepancies with reference to the claim of deduction u/s 80IB(10) of the Act, on one side and requirement of filing the return on the other side or change in accounting method, as the case may be. The CIT(A) shall give reasonable opportunity of hearing to the assessee while re-adjudicating the aforesaid issues. Thus, the grounds raised by Revenue are allowed for statistical purposes. 6. In the result, the appeal of Revenue is allowed for statistical purposes. Order pronounced in the open Court on 5t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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