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2023 (3) TMI 1042 - ITAT MUMBAIDue date for filing of Income Tax Returns - Assessee is non-resident - RBI permission letter mandating the assessee to get his accounts audited - Extension of due date of cases where accounts are required to be audited under the provisions of Income Tax Act while filing the income tax returns - loss claimed by the assessee disallowed to be carried forward to subsequent years as return was not filed within the due date prescribed u/s.139(1) - According to the ld. DR, only those cases where accounts of tax payers are required to be audited under the Income Tax Act alone would get extended time limit up to 17/10/2016 for filing the returns - AR stated that assessee is liable to get the accounts audited only as per RBI permission letter HELD THAT:- We find that assessee’s case herein falls under the ambit of Explanation 2(a)(ii) to Section 139(1) of the Act, as the assessee is liable for audit under any other law for the time being in force. We are of the considered view that “due date” of filing of income tax return is extended from 30/09/2016 to 17/10/2016 only in respect of assessees whose accounts are required to be audited under the Income tax Act. As in the second para of the press release dated 09/09/2016, the CBDT in categorical terms states that it has decided to extend the last date for “such returns” which was due on 30/09/2016 to 17/10/2016. The said extended due date benefit cannot be extended to those assessee’s who were liable to get their accounts audited under any other law for the time being in force which is the case as that of the assessee before us. Hence, we hold that due date of filing of income tax return for the assessee for A.Yrs. 2016-17 is 30/09/2016 and not 17/10/2016 as contended by the ld. AR. From the perusal of the RBI permission letter dated 05/08/1985 mandating the assessee to get his accounts audited, we are of the considered opinion that what RBI mandate was only for the competence of the Chartered Accountant i.e. to say that a Chartered Accountant who is capable of auditing the corporate assessees should conduct the audit of the assessee herein. This was the sole mandate of RBI permission letter dated 05/08/1985. Due date for the assessee herein is only 30/09/2016 and not 17/10/2016. Hence, we hold that assessee is not entitled to carry forward business loss incurred during the year to subsequent years. Accordingly, the grounds raised by the assessee are dismissed.
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