Ma Shanti Agro Foods Pvt. Ltd. Vs ACIT (ITAT Kolkata)
Old vs New Regime Dispute Ends – CBDT Circular & CPC Rectification Resolve 115BAA Claim; Tax Regime Issue Resolved by CPC Rectification – ITAT Kolkata Closes Appeal
Assessee had filed return on 13.02.2022 declaring income of Rs. 1.58 crore & opted for concessional tax regime u/s 115BAA. CPC, while processing return, issued intimation u/s 143(1) on 13.11.2022 applying old regime tax rates, determining liability at Rs. 56.43 lakh. CIT(A) upheld CPC action, holding that Assessee had not filed condonation application for delay in filing Form 10-IC, despite CBDT Circular 19/2023 allowing such condonation up to 31.01.2024.
Before Tribunal, Assessee submitted that CPC had subsequently passed rectification order u/s 154 on 09.10.2024, recomputing liability at concessional rate of 22% as per s.115BAA, thereby resolving the main dispute. Assessee sought permission to withdraw the appeal since grievance stood redressed. It was also stated that the ground relating to small disallowance of Rs. 20,684/- u/s 36(1)(va) was not pressed. Tribunal, noting that relief had already been granted by CPC & no objection was raised by Revenue, accepted the request & dismissed appeal as withdrawn. In result, appeal of Assessee was dismissed as withdrawn.
