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2017 (3) TMI 1391 - HC - Income TaxRevision u/s 263 - Claim of deduction under Chapter VIA of the I.T. Act 1961 - whether claim not made in the original return of income can be allowed as deduction otherwise than by revised return of income” -assessee is a Cooperative Credit Society - Held that:- Tribunal has clearly recorded a finding of fact that the hard copy of the return of income was filed with the Assessing Officer and an acknowledgement of the same was also given by the Assessing Officer. This acknowledgement did indicate the respondent assessee's claim for deduction under Section 80P of the Act was claimed in the return of income. The impugned order also records the fact that there was a malfunctioning of the software as the tax liability could not have been 'Nil' in the absence of the deduction under Section 80P of the Act being taken into account as the income declared by the respondent assessee is ₹ 1.26 crores before deduction under Section 80 of the Act. The malfunctioning of the software under which the return of income was electronically uploaded is also not disputed before us, nor is it shown that the finding of the Tribunal on the above account is in any manner perverse. So far as the nonconsideration by the Assessing Officer of the merits of the claim for deduction under Section 80P of the Act is concerned, we find that the Assessing Officer had considered the claim for deduction under Section 80P of the Act. The Revenue has neither before the Tribunal nor before us demonstrated how and in what manner the consideration of the claim under Section 80P of the Act as reflected in order is erroneous so as to enable him to exercise his powers under Section 263 of the Act. - Decided in favour of assessee
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