Tca/386/2017 Of Commissioner Of Income Tax v. M/S.tamilnadu Industrial

CORAMTHE HON'BLE DR.JUSTICE VINEET KOTHARI THE HON'BLE MR.JUSTICE KRISHNAN RAMASAMYT.C.A.Nos.386 & 387 of 2017 Commissioner of Income Tax,Chennai. ...Appellant in both TCA -Vs- M/s.Tamilnadu Industrial Guidance &Export Promotion Bureau,19A, Rukmani Lakshmipathy Road,Egmore, Chennai 600 008.PAN: ...Respondent in both TCA Tax Case Appeals filed under Section 260-A of the Income TaxAct, 1961 against the order of the Income Tax AppellateTribunal, Madras 'C' Bench dated 27.11.2015 in I.T.A.Nos.2475 &2476/Mds/2014 as against the order dated 11/07/2014 of theCommissioner of Income tax, Chennai in PAN No. for theassessment year 2007-2008 and 2008-2009 in ITA.No.1161 &1160/13-14 & as against the order dated 17/01/2014 for theassessment year 2007-2008 & 2008-2009. (Judgment of the Court was delivered by Dr.Vineet Kothari,J)The Court was held by Video Conference as per theResolution of the Full Court dated 03 July 2020, by Judges atthe respective residence and the counsel, staff of the Courtappearing from their respective residences. Page 1 / 4 https://hcservices.ecourts.gov.in/hcservices/ 2. These appeals have been filed by the Revenue arisingfrom the order dated 27.11.2015 passed by the learned Income TaxAppellate Tribunal Madras 'C' Bench for the Assessment Year2007-08. The substantial question of law raised in theseappeals is as under. “Whether on the facts and in the circumstances of thecase the tribunal was right in holding that that theform 10 can be accepted by the assessing officer duringthe reassessment proceedings in contravention to thedecision reported in 198 ITR 297(SC) when form 10 wasnot submitted along with the return and also evenbefore the completion of original ( assessment andthereby remitting the case for fresh assessment?” 3. The Tribunal, in its order dated 27.11.2015 has held asunder.“8.In view of the above decision of the Delhi HighCourt which is squarely applicable to the facts of thepresent case, the assessee can file Form NO.10 in thecourse of reassessment proceedings. Since the lowerauthorities have not considered Form NO.10 which wasfiled along with the return of income in response tonotice under section 148 and completed the assessmentdenying exemption under section 11, we set aside theassessments for both the assessment years and restorethe matters to the file of the Assessing Officer witha direction to make fresh assessments taking intoconsideration the Form NO.10 filed by the assesseealong with the returns of income filed in response tothe notice under section 148 of the Act, afterproviding adequate opportunity of being heard to theassessee. 9. The assessee raised one more ground in respectof addition made by the Assessing Officer with regardto corpus donation treating as income of the assessee.Since we have set aside the assessments for freshconsideration in view of the Form NO.10 filed by theassessee, we feel it appropriate to remit this issuealso back to the file of the Assessing Officer whoshall consider this issue afresh in accordance withlaw. 10. In the result, both the appeals of theassessee are allowed for statistical purposes.” Page 2 / 4 https://hcservices.ecourts.gov.in/hcservices/ 4. The Tribunal in its impugned order has only remanded thecase back to the Assessing Authority to take into considerationForm No.10 filed by the Assessee belatedly about theaccumulation of income by the respondent Assessee, which is aRegistered Society entitled to exemption under Section 11 of theAct subject to certain conditions. 10. In the result, both the appeals of theassessee are allowed for statistical purposes.” Page 2 / 4 https://hcservices.ecourts.gov.in/hcservices/ 4. The Tribunal in its impugned order has only remanded thecase back to the Assessing Authority to take into considerationForm No.10 filed by the Assessee belatedly about theaccumulation of income by the respondent Assessee, which is aRegistered Society entitled to exemption under Section 11 of theAct subject to certain conditions. 5. Learned counsel for the respondent AssesseeMr.R.Sivaraman apprised the Court while relying upon thedecision of the Coordinate Bench of this Court in the case of“Chandraprabhuji Maharaj Jain -vs- Deputy Commissioner ofIncome-tax, (Exemptions), Chennai” reported in [2019] 110taxmann.com 11 (Madras) and submitted that in pursuance of theimpugned remand order of the learned Tribunal dated 27.11.2015,the Assessing Authority has already granted the relief to theAssessee on the basis of the said Form No.10 filed belatedly bythe Assessee vide his order dated 28.09.2016 for the AssessmentYear 2007-08. He therefore submitted that the present appealshave rendered infructuous. 6. Having heard the learned counsel for the parties, we areof the opinion that even otherwise we are satisfied that againstthe impugned order of the learned Tribunal, no question of lawarises for our consideration under Section 260A of the Act,since a Coordinate Bench has already held that Form No.10 filedbelatedly could be taken into account by the Assessing Officerand has remanded the case back to the Assessing Authority in thecase of “Chandraprabhuji Maharaj Jain -vs- Deputy Commissionerof Income-tax, (Exemptions), Chennai” reported in [2019] 110taxmann.com 11 (Madras) . Therefore, we are of the opinion thatthe learned Assessing Authority has rightly taken into accountthe Form No.10 filed by the Assessee in the present case albeitbelatedly and has granted the desired relief to the respondentAssessee, which is a Government Company incorporated forpromotion of Industrial Development in the State. Page 3 / 4 https://hcservices.ecourts.gov.in/hcservices/ 7. In view of this, we do not find any merit in the presentappeals filed by the Revenue, which in our opinion, haverendered infructuous. The appeals are disposed of as such,without requiring us to answer the question of law in thematter. No costs. -s/d- Assistant Registrar True CopySub-Assistant RegistrarKSTTo1.Income Tax Appellate Tribunal, Madras 'C' Bench 2.The Commissioner of Income Tax,ChennaiT.C.A.Nos.386 & 387 of 2017svi(co)aa29/09/2020 Page 4 / 4