Claim not included in return can be considered during appellate proceedings: ITAT Ahmedabad

ACIT Vs Bharuch Dist. Central Co-op. Bank Ltd (ITAT Ahmedabad)

ITAT Ahmedabad held that if an assessee has failed/omitted to make a claim at the time of filing of return of income the same can be claimed during the course of appellate proceedings. Accordingly, claim placed before appellate authorities allowed.

Facts- AO erred by denying additional deduction u/s. 36(1)(viia) for an amount of Rs.45,00,000/- classified as Standard Assets Contingency Reserve in the Profit and Loss Account. The AO denied the deduction on the basis that this claim was not included

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