Metro Brands Limited Vs DCIT (ITAT Mumbai)
Metro Brands Limited, a listed company engaged in the retail business of fashion footwear, bags and accessories, filed its return of income for Assessment Year 2023-24 on 31-10-2023 declaring total income of Rs. 528.54 crore and claiming a refund of Rs. 1,55,58,570/-. It claimed a deduction of Rs. 1,28,57,142/- under section 80JJAA of the Income-tax Act, 1961, comprising Rs. 13,35,207/- relating to the immediately preceding year and Rs. 1,15,21,935/- towards additional employment during the year.
The assessee submitted that its Chartered Accountant had issued Form 10DA physically on 15-09-2023, bearing UDIN 23102939BGWNEL6500, within the specified date. However, the form was inadvertently e-filed on the income-tax portal on 09-10-2023. The CPC proposed an adjustment of Rs. 1,00,36,584/- under section 143(1)(a)(ii), restricting the deduction to the amount reported in Form 10DA of AY 2022-23. The assessee responded to the proposed adjustment and contended that Form 10DA had been signed within the prescribed period and that the deduction was otherwise allowable.
The CIT(A) sustained the CPC’s disallowance, following which the assessee appealed before the ITAT Mumbai. Before the Tribunal, the assessee submitted that all substantive conditions for claiming deduction under section 80JJAA had been satisfied and that the delay in online filing of Form 10DA was only procedural. Reliance was also placed on decisions of the Delhi, Bangalore and Ahmedabad Benches of the Tribunal.
