Case Law Details
ACIT Vs M/s. Splendor Landbase Limited (ITAT Delhi)
It is seen that section 153A starts with Non obstante clause which inter alia overrides the provisions of section 139. This shows that return filed under section 153A is a separate return. Ld. AR relied upon the judgment of Jurisdictional High Court of Delhi in the case of Principal Commissioner of Income-tax-19 Vs Neeraj Jindal [2017] 393 ITR 1 (Delhi) wherein it was held that once the assessee files a revised return under Section 153A, for all other provisions of the Act, the revised return will be treated as the original return filed under Section 139. The reference to revised return u/s 153A in this decision refers to return u/s 153A. When the A.O. has accepted the return filed by the assessee under Section 153A, no occasion arises to refer to the previous return filed under Section 139 of the Act. For all purposes of the Act, the return that has to be looked at is the one filed under Section 153A. In assessee’s case also, the return filed u/s 153A was accepted and assessed by the Ld. AO. Although carry forward of loss was not allowed in 143(3) assessment as the original return u/s 139 was belated, we are inclined to follow the ratio in the above decision of jurisdictional High Court to accept the contentions of the assessee that it is the return u/s 153A which is to be considered for allowability of carry forward of loss rather than the original return u/s 139.
We find merit in assessee’s submissions that u/s. 153A return is deemed to be return u/s 139(1) and that restrictive provisions of section 80 do not apply to this case. It is the return u/s 153A which once accepted and assessed, replaces the original return u/s 139. Therefore, the assessee is eligible for carry forward of business loss in dispute, hence, the AO is directed to allow the claim of carry forward of business loss in question to the assessee.
FULL TEXT OF THE ITAT JUDGMENT
The Revenue has filed this Appeal and Assessee has filed the Cross Objection against the impugned Order dated 19.2.2016 passed by the Ld. CIT(A)-23, New Delhi relevant to assessment year 2010-11. Since the issues involved in the Revenue’s Appeal as well as in the Assessee’s Cross Objection are inter-connected, hence, the appeal and cross objection were heard together and are being disposed of by this common order for the sake of convenience.
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