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2018 (4) TMI 1427 - AT - Income TaxDeduction u/s 54F - denial of deduction for want of filing the revised return of income - Held that:- Neither the AO nor the ld. CIT (A) has examined the claim of the assessee on merits but rejected the same in limini for want of filing the revised return of income. It is pertinent to note that the claim under section 54F was not made by the assessee against the income which was offered to tax in the return of income so that the condition of filing the revised return can be attracted. There is no embargo in the jurisdiction and powers of the CIT (A) to entertain a fresh claim if the relevant facts for adjudication of the said claim are already on record. In the case in hand, there is no denial that the assessee filed all the relevant documents when the assessee has filed the revised computation of income claiming deduction under section 54F and the AO without considering the claim on merits has rejected on technical ground. Therefore, in the facts and circumstances of the case, we are of the considered view that the ld. CIT (A) is not justified in rejecting the claim of the assessee - set aside this issue to the record of ld. CIT (A) for re-considering the same on merits - Decided in favour of assessee for statistical purposes.
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