9911796707
TMI Blog2025 (1) TMI 1111X X X X Extracts X X X X X X X X Extracts X X X X ..... 4, we find no representation on behalf of the respondent-assessee nor filed any application seeking adjournment. Further, we find from the docket that there was no appearance on behalf of the assessee in all the dates of hearing i.e., 10.06.2024, 15.07.2024, 13.08.2024, 19.09.2024 and 17.10.2024. Further, on perusal of the record, we find that the notice issued on 26.06.2024 returned unserved with an endorsement "no such person addressee return to sender". Therefore, the Respondent- assessee called absent and set exparte, therefore, we proceed to decide the appeal on merits after hearing the ld. DR basing on the material available on record. 3. We find that the appeal was filed with a delay of 111 days. The Appellant-Revenue filed an affid ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tter dated 25.03.2013 mentioning the date of commencement and initial registration. According to the Assessing Officer, the date of commencement of initial registration stated to be January, 2000 and held the same also defective for not having certified by the Chartered Accountant as required by the Act. In view of the same, the deduction claimed under section 10A of the Act was rejected. The ld. CIT(A) observed that even though no signature of C.A., the same is signed by Deloitte Haskins and Sells, which is a multi-national Chartered Accountant firm and held the Form 56F is valid. The ld. CIT(A) directed the Assessing officer to allow deduction under section 10A by holding that the Assessing Officer is quite erroneous in not allowing the b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... B of the Act. While considering the issue involved therein, the Hon'ble Supreme Court held the time limit within which declaration is to be filed as provided under section 10B(8) of the Act is mandatory. Further, it was held that the assessee shall not be entitled to the benefit of section 10B(8) of the Act for non-compliance of twin conditions i.e., furnishing of declaration to the Assessing Officer in writing and the same must be furnished before the due date of filing of return of income under sub-section (1) of section 139 of the Act as provided under section 10B of the Act. In the present case, we find that the claim under section 10A of the Act was made and the Assessing Officer held the audit report in Form 56F is defective and denie ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g report of the Accountant in prescribed format along with return of income under section 139(1) of the Act duly certifying the deduction has been correctly claimed in accordance with the provisions. We note that the provision under section 10AA of the Act is a special provision in respect of newly established units under Special Economic Zone. The Tribunal, in order to arrive such conclusion, placed reliance in the case of PCIT v. Wipro Ltd. (supra). 10. Coming to the present case, the assessee claimed deduction with reference to the deduction under section 10A of the Act. We note that the provision under section 10A of the Act is also a special provision in respect of newly established undertakings in Free Trade Zone, etc. There is no di ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Form 56F along with return of income under section 139(1) of the Act, i.e., within the due date prescribed therein. Therefore, the assessee fulfilled the twin conditions as held by the Hon'ble Supreme Court in the case of PCIT v. Wipro Ltd. (supra) i.e., furnishing the report in Form 56F in writing and filing the same along with return of income as per sub-section (5) to section 10A of the Act, but, the issue before us is whether the said report of an Accountant is valid or not? As discussed above, initially, the year of commencement of manufacture or production and the date of initial registration in FTZ/EPZ/SEZ were not furnished in Form 56F by the assessee. The Assessing Officer proposed to reject the said Form 56F, thereafter, a fresh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stitution. Further, sub-section (1) of section 6 of that Act explains that no Member of the Institution shall be entitled to practice whether in India or elsewhere he has obtained from the Council a certificate of practice. Therefore, we find the "Accountant" as referred in sub-section (5) to section 10A of the Act, as the definition which provided in Explanation below to sub-section (2) to section 288 of the Act means a "Chartered Accountant", who is a Member of the Institute of Chartered Accountants of India, shall hold certificate obtained from the Council for practice. As we discussed above, the ld. CIT(A) held that the "Deloitte Haskins and Sells", which is stated to be a multi-national Chartered Accountant Firm can sign Form 56F. We f ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
