TMI Blog2018 (6) TMI 1274X X X X Extracts X X X X X X X X Extracts X X X X ..... . That being the case, the revised return of income filed by the assessee under section 139(5) of the Act cannot be held as invalid. When the assessee has made a claim of deduction under section 54 of the Act, it is incumbent on the part of the Departmental Authorities to examine whether assessee is eligible to avail the deduction claimed under the said provision. The Departmental Authorities are not expected to deny assessee’s legitimate claim by raising technical objection. In view of the aforesaid, we set–aside the impugned order of the learned Commissioner (Appeals) and restore the issue to the file of the Assessing Officer for examining and allowing assessee’s claim of deduction under section 54 of the Act subject to fulfillment of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed return of income filed by the assessee claiming deduction under section 54 of the Act being invalid is not acceptable and accordingly, completed the assessment rejecting assessee s claim of deduction under section 54 of the Act. Being aggrieved with the disallowance of deduction claimed under section 54 of the Act, assessee preferred appeal before the first appellate authority. 4. Before the learned Commissioner (Appeals) the assessee also urged an additional ground in respect of his claim of deduction under section 54 of the Act. The learned Commissioner (Appeals), however, upheld the disallowance of deduction claimed under section 54 of the Act by accepting the reasoning of the Assessing Officer that the revised return of income fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hority, he has not considered the same in accordance with law. The learned Authorised Representative submitted, if the assessee is otherwise eligible for a deduction under section 54 of the Act, the Departmental Authorities cannot deny such claim by raising technical objections. 6. The learned Departmental Representative relied upon the observations of the learned Commissioner (Appeals). 7. We have considered rival submissions and perused materials on record. As could be seen from the facts on record, in the original return of income the assessee had neither declared the long term capital gain nor has claimed deduction under section 54 of the Act. Further, the rental income offered in the original return of income was lesser than the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rong statement in the original return of income he can file a revised return of income at any time before the expiry of one year from the end of the relevant assessment year or before completion of the assessment whichever is earlier. There is no dispute to the fact that both the conditions imposed under section 139(5) of the Act stood complied in case of revised return of income filed by the assessee. There is no bar / restriction in the provisions of section 139(5) of the Act that the assessee cannot file a revised return of income after issuance of notice under section 143(2) of the Act. It is trite law, the assessee can file a revised return of income even in course of the assessment proceedings, provided, the time limit prescribed unde ..... X X X X Extracts X X X X X X X X Extracts X X X X
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