9911796707
TMI Blog2021 (12) TMI 1260X X X X Extracts X X X X X X X X Extracts X X X X ..... ated as per law of Thailand and is stated to be engaged in manufacturing and marketing of Confectionary products. In India, to explore the new market for its products the assessee company established a branch office w.e.f 30.09.2011 mainly to carryout trading activities in India. During the year under consideration, the branch office was stated to have been engaged in marketing, promotion and advertisement etc. of the Thai Gluco's products in India. Assessee filed its return of income for A.Y. 2013-14 on 22.11.2013 declaring total income of Rs. Nil. The case was selected for scrutiny under CASS and consequently, notices u/s 143(2) and 142(1) of the Act was issued and served on the assessee. During the course of assessment proceedings, AO on ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ansactions or specified domestic transactions, the benefit of extended due date for filing the return of income was not available to the assessee. He was further of the view that Form 3CEB was got prepared to avail the extended period for filing the return of income and to carry forward the losses incurred during the year under consideration. He accordingly denied the carry forward losses of Rs. 1,86,22,133/- to the assessee. 4. Aggrieved by the order of AO, assessee carried the matter before CIT(A) who vide order dated 22.09.2017 in Appeal No.40/17-18 upheld the order of AO. Aggrieved by the order of CIT(A), assessee is now in appeal and has raised the following grounds: 1. "That order passed by Ld. CIT(A)-23, New Delhi (hereinafter ref ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e outset, Learned AR submitted that though the assessee has raised various grounds but the sole controversy is whether the return filed by assessee on 22.11.2013 can be considered to have been filed on time and therefore assessee eligible to claim the carry forward of losses. 6. Before us, Learned AR reiterated the submissions made before the lower authorities and further submitted that during the year under consideration, assessee had received money towards capital contribution from its AEs. It was further submitted that in view of specific inclusion of the term 'PE' in the definition of the term 'enterprise', the transactions between the non residents and its branch office (BO) or its project office (PO), which constitutes a PE in India ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... see was stated to be Nil and therefore in such a situation assessee cannot claim the benefit for extended date for filing of return of income. He thus supported the order of lower authorities. 8. We have heard the rival submissions and perused the materials available on record. The issue in the present appeal is whether the return filed by the assessee on 22.11.2013 for A.Y. 2013-14 can be considered to be a return filed in time for availing the benefit of carry forward losses in the year under consideration. 9. It is an undisputed fact that assessee had filed the return of income for A.Y. 2013-14 on 22.11.2013 whereas as per Explanation 2(a) to Section 139, the last date for filing the return of income was 30.09.2013. It is also an undis ..... X X X X Extracts X X X X X X X X Extracts X X X X
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