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TMI Blog2020 (4) TMI 400X X X X Extracts X X X X X X X X Extracts X X X X ..... 154 of the Act without following the submission of assessee. Assessee was in bonafide belief that Ld. CIT(A) will pass favourable order and with improper guidance from its counsels, failed to file the appeal before Ld. CIT(A) for all those AYs on time. Considering the overall situations and assessee has a debatable issue on merits and for the sake of justice, we are remitting this issue back to the file of Ld. CIT(A) to condone the delay in filing the appeal for all those assessment years and decide the issue on merits on issue of Sec 115JB as well as chargeability of interest u/s 234B and 234C. Accordingly grounds raised by the assessee for this assessment year is allowed for statistical purposes. - I.T.A. No. 7170 to 7173/Mum/2018 - ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Act for AYs 2007-08 to 2009-10 2011-12. Before passing the order u/s 154, AO issued notice u/s 154 on 19.04.13 and duly served on the assessee. In response, AR of the assessee submitted that assessee filed an appeal before Ld. CIT(A) against the order for AY 2010-11 and requested the AO to keep rectification order u/s 154 in abeyance until respective order from Ld. CIT(A) are not received. The AO rejected the contentions of the assessee and passed rectification order on 01.07.13. However, we notice that assessee waited for the outcome of the appeal filed before Ld. CIT(A) for the AY 2010-11 and Ld. CIT(A) passed the respective orders on 16.03.17 rejecting the contentions of the assessee with regard to section 115JB. However, Ld. CIT(A) g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct) for the AY 2007-08 amount of ₹ 17,43,515/-. 4. On the facts and circumstances of the case and law, the Ld. CIT(A) erred in not correctly appreciating the provisions of section 115JB(5), according to which, save as otherwise provided in that section, all other provisions of the Act, shall apply to every assessee, being a company and accordingly, the amount of ₹ 1,51,71,038/-, being deduction allowable under section 80-IB(8A) of the Act, was required to be reduced from the net profit for the purpose of computation of book profit. 5. On the facts and circumstances of the case and law, the Ld. CIT(A) failed to appreciate that even as per Circular No. 13 of 2001, dt.9.11.2001, it has been clearly pointed out that in vie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that interest cannot be charged on the tax due on 115JB calculation. He further submitted that Ld. CIT(A) has refused to condone the delay and he prayed that this matter may be remitted back to the file of Ld. CIT(A) for proper adjudication. 7. On the other hand, Ld DR relied on the order passed by the revenue authorities and submitted that the delay in filing the appeal before Ld. CIT(A) is enormous and cannot be condoned. 8. Considered the rival submissions and material placed on record. We notice from the record that AO completed the assessment for AYs 2007-08 to 2009-10 2011-12, however in AY 2010-11, he found that assessee has not offered to tax based on provision of Sec. 115JB, even though assessee has taxable book Profit. S ..... X X X X Extracts X X X X X X X X Extracts X X X X
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