Judgment dated 13.08.2020 in TCA Nos.386 & 387 of 2017 CITv . Tamilnadu Industrial Guidance & Export Promotion Bureau IN HIGH COURT OF JUDICATURE AT MADRAS DATED: 13.08.2020 CORAM HON'BLE DR.JUSTICE VINEET KOTHARI AND HON'BLE MR.JUSTICE KRISHNAN RAMASAMY T.C.A.Nos.386 & 387 of 2017 Commissioner of Income Tax, Chennai. ... Appellant -Vs- M/s.Tamilnadu Industrial Guidance & Export Promotion Bureau, 19A, Rukmani Lakshmipathy Road, Egmore, Chennai 600 008. PAN: AACCT7538B ... Respondent Tax Case Appeals filed under Section 260-A of Income Tax Act, 1961 against order of Income Tax Appellate Tribunal, Madras 'C' Bench dated 27.11.2015 in I.T.A.Nos.2475 & 2476/Mds/2014. For Appellant : Mr.J.Narayanaswamy, Senior Standing Counsel For Respondent : Mr.R.Sivaraman JUDGMENT (Judgment of Court was delivered by Dr.Vineet Kothari,J) Court was held by Video Conference as per Resolution of Full Court dated 03 July 2020, by Judges at respective residence and counsel, staff of Court appearing from their respective residences. Page 1 / 6 http://www.judis.nic.in Judgment dated 13.08.2020 in TCA Nos.386 & 387 of 2017 CITv . Tamilnadu Industrial Guidance & Export Promotion Bureau 2. These appeals have been filed by Revenue arising from order dated 27.11.2015 passed by learned Income Tax Appellate Tribunal Madras 'C' Bench for Assessment Year 2007-08. substantial question of law raised in these appeals is as under. Whether on facts and in circumstances of case tribunal was right in holding that that form 10 can be accepted by assessing officer during reassessment proceedings in contravention to decision reported in 198 ITR 297(SC) when form 10 was not submitted along with return and also even before completion of original ( assessment and thereby remitting case for fresh assessment? 3. Tribunal, in its order dated 27.11.2015 has held as under. 8.In view of above decision of Delhi High Court which is squarely applicable to facts of present case, assessee can file Form NO.10 in course of reassessment proceedings. Since lower authorities have not considered Form NO.10 which was filed along with return of income in response to notice under section 148 and completed assessment denying exemption under section 11, we set aside assessments for both assessment years and restore matters to file of Assessing Officer with direction to make fresh assessments taking into consideration Form NO.10 Page 2 / 6 http://www.judis.nic.in Judgment dated 13.08.2020 in TCA Nos.386 & 387 of 2017 CITv . Tamilnadu Industrial Guidance & Export Promotion Bureau filed by assessee along with returns of income filed in response to notice under section 148 of Act, after providing adequate opportunity of being heard to assessee. 9. assessee raised one more ground in respect of addition made by Assessing Officer with regard to corpus donation treating as income of assessee. Since we have set aside assessments for fresh consideration in view of Form NO.10 filed by assessee, we feel it appropriate to remit this issue also back to file of Assessing Officer who shall consider this issue afresh in accordance with law. 10. In result, both appeals of assessee are allowed for statistical purposes. 4. Tribunal in its impugned order has only remanded case back to Assessing Authority to take into consideration Form No.10 filed by Assessee belatedly about accumulation of income by respondent Assessee, which is Registered Society entitled to exemption under Section 11 of Act subject to certain conditions. 5. Learned counsel for respondent Assessee Mr.R.Sivaraman apprised Court while relying upon decision of Coordinate Bench of this Court in case of Chandraprabhuji Maharaj Jain -vs- Deputy Commissioner of Income-tax, (Exemptions), Chennai reported in [2019] 110 Page 3 / 6 http://www.judis.nic.in Judgment dated 13.08.2020 in TCA Nos.386 & 387 of 2017 CITv . Tamilnadu Industrial Guidance & Export Promotion Bureau taxmann.com 11 (Madras) and submitted that in pursuance of impugned remand order of learned Tribunal dated 27.11.2015, Assessing Authority has already granted relief to Assessee on basis of said Form No.10 filed belatedly by Assessee vide his order dated 28.09.2016 for Assessment Year 2007-08. He therefore submitted that present appeals have rendered infructuous. 6. Having heard learned counsel for parties, we are of opinion that even otherwise we are satisfied that against impugned order of learned Tribunal, no question of law arises for our consideration under Section 260A of Act, since Coordinate Bench has already held that Form No.10 filed belatedly could be taken into account by Assessing Officer and has remanded case back to Assessing Authority in case of Chandraprabhuji Maharaj Jain -vs- Deputy Commissioner of Income-tax, (Exemptions), Chennai reported in [2019] 110 taxmann.com 11 (Madras) . Therefore, we are of opinion that learned Assessing Authority has rightly taken into account Form No.10 filed by Assessee in present case albeit belatedly and has granted desired relief to respondent Assessee, which is Government Company incorporated for promotion of Industrial Development in State. Page 4 / 6 http://www.judis.nic.in Judgment dated 13.08.2020 in TCA Nos.386 & 387 of 2017 CITv . Tamilnadu Industrial Guidance & Export Promotion Bureau 7. In view of this, we do not find any merit in present appeals filed by Revenue, which in our opinion, have rendered infractions. appeals are disposed of as such, without requiring us to answer question of law in matter. No costs. (V.K.,J.) (K.R.,J.) 13.08.2020 KST/kpl To Income Tax Appellate Tribunal, Madras 'C' Bench Page 5 / 6 http://www.judis.nic.in Judgment dated 13.08.2020 in TCA Nos.386 & 387 of 2017 CITv . Tamilnadu Industrial Guidance & Export Promotion Bureau Dr.VINEET KOTHARI, J. and KRISHNAN RAMASAMY, J. KST T.C.A.Nos.386 & 387 of 2017 13.08.2020 Page 6 / 6 http://www.judis.nic.in Commissioner of Income-tax, Chennai v. Tamilnadu Industrial Guidance & Export Promotion Bureau