ITO Vs Kumar Builders Project Pune Pvt. Ltd (ITAT Pune)
ITAT Pune held that delay of 02 seconds in filing income tax return [ITR] is to be condoned and return is to be treated as filed in time as delay was caused due to technical glitch and last hour rush in website. Accordingly, claim of carry forward business loss allowed.
Facts- The assessee is a private limited company engaged in business of development of real estate projects. It filed its original return of income on 31.10.2019 declaring a loss of Rs.1,22,14,57,394/- and claimed the TDS credit of Rs.4,02,541/- thereby claiming a refund of Rs.4,02,541/-. The return was revised on 06.03.2020 claiming income tax refund of Rs.2541/- and carry forward loss of Rs.3,95,51,713/-. However, the CPC did not allow the claim of carry forward business loss of Rs.3,95,51,713/- as claimed in the return on the ground that the original return was filed belatedly i.e. beyond the prescribed date of 31.10.2019.
CIT(A) allowed the appeal of the assessee. Being aggrieved, revenue has preferred the present appeal.
Conclusion- Mumbai Bench of the Tribunal in the case of DCIT vs. M/s. Palava Dwellers Pvt. Ltd. and Lodha Developers Ltd vs. DCIT has held that the delay of 2 minutes, which was caused due to technical glitch and last hour rush in the website, cannot be held against the assessee and accordingly the Assessing Officer was directed to treat the return filed by the assessee for assessment year 2014-15 as filed in time and consequently to consider the revised return filed by the assessee for the purpose of computing the income of the assessee.
