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2021 (2) TMI 1001 - AT - Income TaxAssessment u/s 153A - Disallowance of loss to be carried forwarded - addition of income tax expenses wrongly made by assessee company in original computation due to some clerical error - HELD THAT:- We find that both the authorities have not appreciated the exact reasons for the difference in the loss figures as per the original return and return filed in response to notice u/s 153A and has summarily rejected the assessee’s position and as we have noted above, it is a case of mistake whereby the income tax expense which has been disallowed twice while filing the original return of income has been corrected while filing the return of income under section 153A of the Act and there is no fresh claim of any expenditure or loss which was not claimed earlier and has now been claimed for the first time while filing the return in response to notice u/s 153A of the Act. Though the original return of income was filed on 21.09.2012 and the time limit for filing the revised return had expired as contended by the ld CIT/DR, however, being a mistake apparent from record, the assessee can invoke the provision of section 154 and seek rectification of intimation issued u/s 143(1) dated 15.03.2013 before expiry of four years and which has not expired at the time of issuance of notice u/s 153A of the Act on 1.04.2015. Therefore, when the assessee filed the return in response to notice u/s 153A, the assessee still had time to rectify the original return of income and where such rectification is sought as part of return of income filed u/s 153A instead of initiating separate proceeding by way of filing a rectification application, no fault can be said to arise in such a case. We are of the considered view that it is a not a case of fresh claim of loss in the return filed u/s 153A and therefore, the decision of Hon’ble Rajasthan High Court in case of Jai Steels (2013 (6) TMI 161 - RAJASTHAN HIGH COURT) doesn’t support the case of the Revenue. Decided in favour of assessee.
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