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2013 (4) TMI 737 - ITAT CHENNAI
Non Est Return - Claim of deduction u/s 80IA - ITR was filed within prescribed time limit without claim the deduction - Fresh deduction claim in the revised return u/s 139(5) - Deduction not allowed unless return furnished u/s 80AC within the prescribed time limit - CIT(A) allowed the claim of the assessee.
HELD THAT:- According to Section 139 (1), "Revised return can be filed at any time before expiry of one year from the end of the relevant assessment year or before the completion of assessment, whichever is earlier". The Assessee had filed a revised return before expiry of one year from the relevant assessment year and therefore the return filed is a valid return as per the provisions section 139(5). - The contention of the Revenue that, the assessee had not made any claim in its original return filed under section 139(1), no deduction is allowable under section 80IA of the Act, in view of the provisions of section 80AC, has no force.
Order of CIT(A) allowing the claim sustained.
Recurring Expenditure - replacement of certain machinery - Revenue Expenditure u/s 35(1)(i) - A.O. treated the cost of replacement of certain machinery in its spinning mill, as capital expenditure. Out of the said amount, the Commissioner of Income Tax (Appeals) allowed Rs. 4,23,588/- representing the cost of multi drum filter as revenue expenditure stating that these filters have to be constantly replaced on account of deterioration in filtering capacity. Revenue filed an appeal. HELD THAT: - A.O. is directed to allow the cost of replacement of multi drum filter as revenue expenditure.
Revenue Appeal Dismissed.