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TMI Blog2023 (10) TMI 1429X X X X Extracts X X X X X X X X Extracts X X X X ..... wed the claim of the assessee observing that the same has been filed during the course of assessment proceedings and further filing of report is curable even if it is not submitted along with the return of income. Considering the fact that the assessee has e-filed the income tax return before the due date prescribed u/s 139(1) provided the details of the alleged claim in the Income Tax Return and duly furnished Form 3CEA during the course of assessment proceedings and further an affidavit has also been filed by the auditor mentioning the reason due to which the Form 3CEA was not uploaded on the E-Portal of Income Tax along with the return of income at the time of filing the return of income before the due date u/s 139(1) we are of the view ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come then, as attachments were not allowed, that it was not filed when asked for it, as the company is closed and defunct and there was no staff to look after the income tax matters and when the appellant came to know about the non filing, the appellant submitted the same immediately and requested to condone the delay in filing Form 3CEA. (4) The CIT(A) National Faceless Appeal Centre erred in not appreciating the fact that the following decisions were applicable to the appellant 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 45 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed along with the return of income. The ld. Assessing Officer noticed that the Form 3CEA has not been uploaded on the Income Tax Portal. The assessee filed reply dated 23.10.2020 stating that there is no Form 3CEA and enclosed the Business Transfer Agreement dated 29.03.2018. The ld. Assessing Officer before disallowing the claim of long-term capital loss from slump sale issued a final show- cause notice to the assessee. The assessee submitted that it mistakenly read Form 3CEB instead of Form 3CEA and also enclosed Form 3CEA prepared by the auditor namely CA R. Madhumitha It was submitted that the report, which is required to be furnished along with the return of income was not filed with the return of income as it could not be uploaded ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ich the declaration was to be filed is directory in nature. Reliance was placed on the judgment of the Hon ble Supreme Court in the case of CIT vs..- G.M. Knitting Industries Pvt. Limited reported in 376 ITR 456 (Civil Appeal No. 10782 of 2013 dated 24th July, 2015) and the recent decision of the Hon ble ITAT, Hyderabad in the case of Nhance Engineering Solutions Pvt. Limited vs.- DCIT in ITA No. 1522/HYd./2018 dated 20.02.2019. During the course of hearing, direction was given to ld. Counsel to place an affidavit of the auditor, who has prepared the said Form 3CEA stating the reasons for not e-filing the report on the Portal. From the record, we notice that the said affidavit issued by the Chartered Accountant R. Madhumita, B.Com, FCA, Mem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ale. The ld. Assessing Officer has examined this transaction and so far as the figures of sale consideration and the net worth of the undertaking or division are concerned, there is no dispute at the end of Revenue. The only reason for denying the said claim of the assessee is for non-filing of form 3CEA. Admittedly when the return of income was filed electronically on 16.10.2018 in Form 3CEA, which the assessee was required to obtain from the auditor as per Rule 6H read with section 50B(3) of the Act and the same was required to be uploaded on E-Portal under PAN of the assessee by the auditor. The said report was not available on the E-Portal. When the assessee was confronted with this fact, he stated that Form 3CEA was duly obtained on 16 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Form 3CEA before the ld. Assessing Officer during the course of assessment proceedings and the same was duly complied. Hon ble Supreme Court in the case of CIT vs.- G.M. Knitting Industries (P) Limited dealing with similar issue where Form 3AA was not furnished along with the return of income, but admittedly it was submitted during the course of assessment proceedings, the Hon ble Court affirmed the view of the Hon ble High Court and held that even if Form 3AA was not filed along with the return of income but same was filed during assessment proceedings before final order of assessment was made, then, the same would tantamount to sufficient compliance. We find that the Coordinate Bench, Hyderabad in the case of Nhance Engineering Solutions ..... X X X X Extracts X X X X X X X X Extracts X X X X
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