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2016 (7) TMI 181 - AT - Income TaxEligibility of exemption u/s 54 - assessee has filed a belated return - due date of filing the return - Held that:- As decided in CIT-II, Chandigarh Versus Ms. Jagriti Aggarwal [2011 (10) TMI 279 - PUNJAB AND HARYANA HIGH COURT] due date of filing the return of income as per section 139 of the Act with reference to exemption u/s 54, is subject to the extended period provided under sub section (4) of section 139. It is undisputed that investment in the present appeal were done before this date. Furthermore, Chandigarh Bench of the Tribunal on an identical lines in Sh. Mohan Singh Vs. ACIT [2015 (7) TMI 1111 - ITAT CHANDIGARH] in the similar issue of belated return has granted the benefit of section 54 to the assessee. It is not the case that the said decision of the ITAT has been reversed by the Hon'ble Jurisdictional High Court. - Decided in favour of assessee
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