Case Law Details
Smt. Ashaba Rajendrasinh Vs CIT (ITAT Rajkot)
Ld. CIT(A) while rejecting the claim of the assessee observed that the assessee was mandatorily required to file the return of income for the year under consideration which he has failed to do. In that view of the matter the claim of deduction under section 54 has been rejected.
On the other hand, the assessee’s contention is this that the amendment of this proviso of Section 139(1) is applicable w.e.f. assessment 2020-21 which is not applied in the case of the applicant. In this regard, he has drawn our attention to Page 132 of the Paper Book upon considering the same we find merit and substance in the case made out by the assessee. It appears that the 6th Proviso of Section 139(1) after amendment is applicable for A.Y. 2020-21. The assessee’s case is not coming unde the purview of such proviso. Hence, we hold that the assessee is entitled to such claim under Section 54 of the Act. We, therefore, allow the appeal by directing the Ld. AO to pass orders in accordance with law.
FULL TEXT OF THE ORDER OF ITAT RAJKOT
Please become a Premium member. If you are already a Premium member, login here to access the full content.
