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2024 (1) TMI 857 - ITAT DELHIDisallowance of claim of brought forward loss - considering the revised return of income filed u/s 139(5) to belated return of income filed u/s 139(4) and thereby denying assessee to carry forward the losses - HELD THAT:- Counsel has taken us through the original return filed for the Assessment Year 2019-20 dated 26/11/2019 which depicts that, the assessee has filed the return well within the time limit specified under Explanation 2 to Section 139(1) of the Act which is 26/11/2019. The Ld. CIT(A) by recording wrong date of filing of the return by the assessee i.e. ‘20/02/2020’, for AY 2019-20 erroneously held that the assessee had filed the return belatedly, which ultimately resulted in not allowing the loss claimed by the assessee for Assessment Year 2019-20. Considering all we are of the opinion that the Ld. CIT(A) has committed error in not allowing the carry forward of losses accordingly, we direct the A.O. to allow the assessee to carry forward the loss for the Assessment Year 2019-20 as claimed by the assessee. Appeal of assessee allowed.
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