Tax Management India. Com
                        Law and Practice: A Digital eBook ...

Category of Documents

TMI - Tax Management India. Com
Case Laws Acts Notifications Circulars Classification Forms Manuals SMS News Articles
Highlights
D. Forum
What's New

Share:      

        Home        
 

TMI Blog

Home

2019 (5) TMI 749

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... advertent technical error, and in no manner ought to have been considered as additional income declared by the assessee pursuant to the search operations carried out in the group. Assessee had attended the proceedings under the bonafide belief that the losses as claimed (which was same in both returns filed u/s 139(1) and 153(A) were duly being assessed by the AO, and this intention of the AO to treat the current year loss of the assessee as its additional income was never intimated during the assessment proceeding. Rather it was noticed only when the assessment order was received, thus no opportunity was ever granted to explain the issue during the course of assessment proceedings before AO. In the instant case, assessee has claimed .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... n the circumstances of the case, the Ld. CIT(A) has grossly erred in upholding that assessee has declared additional income of ₹ 5,232/- in return of income filed in response to notice issued u/s 153A without appreciating the facts and circumstances of the case and the submissions made before the Ld. AO. Thus, the conclusion so drawn based on wrong appreciation of facts, deserves to be ignored. 1.1 That the Ld. CIT(A) has failed to appreciate the fact that the current year loss of ₹ 5,232/-as was appearing in acknowledgement of return filed u/s 139, was also duly appearing in the 'Schedule CFL' of the ITR-6 filed u/s 153A of the IT Act. But inadvertently the same did not add up in the 'Total loss carried forward' .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ed as carried forward to next years. Thereafter in response to notice issued u/s 153A dated 04.12.2014, returns were filed within the time limit provided in the notice declaring Nil Income and claiming loss for the current year as was claimed in the returns filed u/s 139(1) of the Act, however, due to some technical error the figure of current year loss claimed and carried forward did not appear in the acknowledgement generated online. The AO completed assessment u/s 143(3) r.w.s. 153A of the Act for all the above AYs at Nil Income but without giving benefit of carry forward to current year losses, stating that such loss was not claimed by the assessee in the return filed u/s 153A and made addition of the same by alleging it to be additiona .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... enditure after the search operation. 6. Against the above order of the ld. CIT(A), the assessee is in further appeal before the ITAT. 7. We have considered the rival contentions and carefully gone through the orders of the authorities below and found from the record that the assessee had not declared any additional income, pursuant to search in any of the assessment years involved. The contention of the assessee that no additional income was offered in the return filed u/s 153A is further strengthened by the reply of the assessee to the point no 8 of the questionnaires issued during each of the assessment proceedings, wherein the assessee has specifically mentioned the fact that no additional income was offered by it. Moreover, during the c .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... the row (xi) specifying the current year loss, the amount of loss is duly appearing. Thus, the assessee has duly shown its current year loss at all the required places in the ITR which are at as many as three places. 9. With regard to ld. CIT(A) s observation to the effect that all the data in the two returns filed were not same because if it would have been so then two different Acknowledgement would not have been generated, is misplaced. In this regard, we observe that though data in the two returns were obviously same as submitted earlier also, but as the return now filed was u/s 153A and the earlier return was u/s 139(1) accordingly different acknowledgement would surely be generated even if the data of income etc. are same. We also fo .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... during the course of assessment proceedings before AO. 12. Moreover, we observe that it is not a case where the claim of any deduction has not been lodged in the original return filed u/s 139(1) and now the assessee wants to take the benefit of the same in the return of income filed u/s 153A. In the instant case, assessee has claimed the business loss and carried forward the loss in the original return of income filed u/s 139(1) of the IT Act, 1961 and again in the return filed in response to notice issued u/s 153A, however due to some error the claim was not properly appearing in the acknowledgment of return generated and for such genuine error the assessee should not be penalized. 13. In view of the above discussion, I do not find any mer .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

 

 

 

 

|| Home || About us || Feedback || Contact us || Disclaimer || Terms of Use || Privacy Policy || Database || Members || Refer Us ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.
|| Site Map - Recent || Site Map ||