TMI Blog2021 (7) TMI 527X X X X Extracts X X X X X X X X Extracts X X X X ..... e allowed such deduction or allowance of expenditure which it had not claimed in the original assessment proceedings which in the case of the assessee stood completed vide order dated 15.01.2009 passed under Section 143(1) of the Act. The Tribunal, in our opinion, has followed the decision of Rajasthan High Court and we confer the view taken by Rajasthan High Court in JAI STEELS, supra. For the aforementioned reasons, the substantial questions of law are answered against the assessee and in favour of the revenue. - I.T.A. NO.1036 OF 2017 - - - Dated:- 6-7-2021 - HON BLE MR. JUSTICE ALOK ARADHE AND HON BLE MR. JUSTICE HEMANT CHANDANGOUDAR APPELLANT (BY SRI. BALRAM R. RAO, ADV.,) RESPONDENT (BY SRI. K.V. ARAVIND, ADV.,) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f Section 115JB of the Act. An order of assessment was passed under Section 143(1) of the Act on 15.01.2009. Thereafter, an application was filed under Section 154 of the Act before the Assessing Officer pointing out the discrepancy in the short grant of TDS credit to the extent of ₹ 8,79,156/-. An order of rectification was passed on 13.07.2010 by which refund of a sum of ₹ 10,55,000/- was granted. Thereafter, a search and seizure operation under Section 132 of the Act was initiated on 11.10.2012 and a notice under Section 153A of the Act was issued on 17.02.2014. The appellant filed a letter requesting to treat the original return of income filed on 31.10.2017 under Section 139(1) of the Act as returned income in response to n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tted that the Tribunal erred in not appreciating the suo motu disallowance only made by the appellant out of abundant caution, considering similar disallowance made in the past Assessment Years as there were no precedents. It is further submitted that the Tribunal ought to have taken into account the well settled legal principle that the Assessing Officer should determine the taxable income of the assessee under the Act as per the prevalent law and judgments which are applicable to the fact situation of the case. Learned counsel for the assessee also placed reliance on the circular dated 11.04.1955 issued by the Central Board of Direct Taxes as well as the decisions of Delhi High Court in 'CIT Vs. BHARAT ALUMINIUM CO. LTD.' 163 TA ..... X X X X Extracts X X X X X X X X Extracts X X X X
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