During Assessment AO should take cognisance of revised return: ITAT

Kothari Brothers Vs ITO (ITAT Ahmedabad) The assessee submitted that the appeal before the CIT(A) was filed in respect of rejection of rectification application and thereby disallowance of claim for carry forward losses in revised return needs to be looked into. The original return of income for A.Y. 2007-08 was filed on 24.11.2007 declaring total income of Rs.3,52,690/-. As the assessee came to know that inadvertently the claim of set off of carry forward and assessed loss pertaining to 2005-06 were taken into account while filing original return of income. Therefore, the assessee filed revis...