TMI Blog2019 (7) TMI 438X X X X Extracts X X X X X X X X Extracts X X X X ..... resentative of the assessee. In such situation, the assessee's case was foreclosed solely on the ground that he had not filed revised return of income. With regard to the loss incurred on cancellation of forward contract, on facts, the CIT(A) found that it is an act of omission on account of erroneous belief of complex legal position. With regard to the claim of deduction under Section 80IA, in respect of the income free windmills, the CIT(A) noted that legal disputes were pending before the Hon'ble Supreme Court and various Courts at the time of filing of returns and there was uncertainty in the legal position which could be taken as a reasonable cause for the assessee not claiming the deduction in the return of income. Further, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng the following substantial questions of law:- (i) Whether the ITAT is correct in law in holding that the assessee is eligible to claim deduction u/s 80IA, which was not claimed in the return of income, after insertion of provisions vide Sec. 80A(5) in the Finance Act 2009? (ii) Whether the ITAT is correct in law by allowing the fresh claim of the assessee with respect to the Loss on Cancellation of Forward Contracts and M to M Loss Provisions Written Back by relying case laws which are distinguishable to the facts of the assessee's case. (iii) Whether the ITAT is correct in not applying the ruling of the Hon'ble High Court in the case of M/s.Lakshmi Card Clothing Ma ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Claim for deduction u/s 80IA in respect of income from Windmills. 6.The Assessing Officer did not entertain the claims by referring to the decision of the Hon'ble Supreme Court in the case of Goetze (India) Ltd., vs. CIT reported in (2006) 284 ITR 323 (SC) and held that deduction from the total income could be claimed only by filing a revised return of income and since the assessee did not file the revised return of income for claiming the aforementioned three deductions, the claims are not acceptable. In respect of the claim of deduction under Section 80IA of the Act, the Assessing Officer held that Statutory Form No.10CCB having been filed only during the assessment proceedings, the same cannot be entertaine ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... material was available on record either by the appellate authorities, which includes both the CIT(A) and the Tribunal by themselves, or on remand by the Assessing Officer. The CIT(A) after considering the facts of the case, found that the details of provisions and the actual loss relating to that year was on record and it was an inadvertent omission crept in while preparing the memo of income. 9.With regard to the loss incurred on cancellation of forward contract, on facts, the CIT(A) found that it is an act of omission on account of erroneous belief of complex legal position. With regard to the claim of deduction under Section 80IA, in respect of the income free windmills, the CIT(A) noted that legal disputes were pending ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nue strenuously contended that the Assessing Officer rightly held that the three claims which were made by the assessee during the course of assessment proceedings cannot be considered without a revised return having been filed by the assessee, though the assessee had time to file the same. In this regard, the learned counsel submitted that the Assessing Officer rightly followed the decision in the case of Goetze (India) Ltd. (supra) and the CIT(A) and the Tribunal erred in reversing the finding recorded by the Assessing Officer. 13.Further, in support of his contention, the learned relied on a decision of this Court in the case of M/s.Lakshmi Card Clothing Mfg. Co (P) Ltd., vs. The Deputy Commissioner of Income Tax ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t was held that the appellate authorities can allow additional grounds to be canvassed, if it is found to be bona fide and the omission to seek for such relief was a bona fide omission. 15.In the instant case, the records clearly show that all the details were available with the Assessing Officer and no fresh details were required to be filed or taken into consideration. In such circumstances, we agree with the view taken by the Tribunal in confirming the order passed by the CIT(A). 16.So far as the decision in M/s.Lakshmi Card Clothing Mfg. Co (P) Ltd. (supra) is concerned, the assessee filed a return of income for the assessment year 1994-95 on 2p.11.1994. A notice under Section 143(1)(a) of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X
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