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TMI Blog2023 (10) TMI 192X X X X Extracts X X X X X X X X Extracts X X X X ..... accounts, the claim of assessee to be examined. Accordingly, the issue is remitted back to the file of AO for fresh consideration. Denial of carried forward current year loss - contention of the ld. AR is that though AO quantified the carried forward of current year loss at the tune of Rs. 53,87,78,963/- in the end in Annexure- Schedule CFL {as computed u/s 143(1)} in column no.(xiv) current year losses to be carried forward (xiv-xv) mentioned as 0 , which is incorrect - In our opinion, the claim of assessee to carry forward current year loss to be Rs. 53,87,78,963/- without prejudice to our findings in earlier ground. Accordingly, the error crept in the intimation u/s 143(1) of the Act is to be corrected as current year loss to be carried forward at Rs. 53,87,78,963/- which is subject to our findings in ground no. 1. Ordered accordingly. - SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Appellant by : Shri Nikhil Tiwari, A.R. Respondent by : Shri V. Parithivel, D.R. ORDER PER CHANDRA POOJARI, ACCOUNTANT MEMBER: This appeal by assessee is directed against order of NFAC passed u/s 250 of the Income-tax Act, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion in annual general meeting. (ii) change of law e.g., retrospective amendment. (iii) change in interpretation, e.g., CBDT Circular, judgements, etc. 13.12 In case where a member is called upon to report on the revised accounts, then he must mention in the revised report that the said report is a revised report and a reference should be made to the earlier report also. In the revised report, reasons for revising the report should also be mentioned. 3.3. The ld. CIT(A) observed that as per Rule 12(2) of Income Tax Rules, 1962, as amended with effect from 01.04.2013, Tax Audit Report u/s. 44AB has to be mandatorily filed electronically within the prescribed due date by the auditor and any correction thereof also ought to be carried out by filing a revised Tax Audit Report electronically. Reasons for such corrections also have to be clearly stated by the Auditors in the Revised report in accordance with the Guidance Note issued by ICAI. Further such corrections ought to be carried out before finalization of account of subsequent accounting period as well. 3.4. He further observed that Rule 6G of Income Tax Rules itself, now provides for furnishing revised A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 0 16 Income chargeable to tax normal rates (14-15) 0 0 17 Net agricultural income 0 0 18 Loss of current year to be carried forward 54,43,53,518 53,87,78,963 3.8 Thus, he observed that there is no ground for any appeal on this issue. According to ld. CIT(A), the mentioning or non-mentioning of the amount of such carry forward loss in the concerned Schedules per se is not an appealable issue, and it has no relevant to the loss allowed to be carried forward also in the instant case. Hence, the ld. CIT(A) dismissed this ground as nonmaintainable. Against this assessee is in appeal before us. 4. The ld. A.R. submitted that similar issue was decided by coordinate bench of Chennai Tribunal in case of Athenahealth Technology Pvt. Ltd. in ITA No. 82/Chny/2021 dated 21.9.2022 , wherein held as under: 9. After hearing both the sides and going through the facts that the assessee has made a disallowance under the provisions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid towards gratuity by LIC to the employees of the company is essentially claimed in the ITR as allowable deduction from total income. 12. In view of the above, we are of the view that the deduction of gratuity is available in substantive law and it cannot be disallowed merely by the reference of inconsistent entries in explanation of s. 143(1)(a) of the Act being a procedural provisions, it shall not take away the right confirmed in s. 37 r/w s. 40A(7) and s. 36(1)(v) of the Act. We direct the A.O to delete this disallowance. This issue of assessee s appeal is allowed. 4.1 Thus, he submitted that this issue cannot be dealt u/s 143(1) of the Act and even on merit the issue to be decided in favour of assessee. 5. The ld. D.R. relied on the order of the lower authorities. 6. We have heard the rival submissions and perused the materials available on record. In the present case, the assessee made addition to the provision for gratuity to the profit as pr profit loss account. Thereafter, deducted actual gratuity benefits paid during the year. In other words, assessee made addition of provision for gratuity at Rs. 52,49,681/-, thereafter deducted actual gratuity be ..... X X X X Extracts X X X X X X X X Extracts X X X X
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