Case Law Details
Navneet Dutta Vs ITO (ITAT Delhi)
Assessee filed his original return of income on 10.01.2012 for the AY 2011-12 and in the said return due to clerical/typographical error, the assessee could not claim loss from house property. Later on the assessee revised the return of income on 18.06.2012.
Assessee has filed rectification application u/s 154 and the AO held that Since the original returns was filed after the due date so the same cannot be revised. Hence, the loss from house property claimed in revised return is not tenable.
CIT (A)also rejected the assessee’s appeal on the ground that this revised claim should have been made by a proper return of income. Since it has not been done, he sustained the order of AO.
Tribunal noted that assessee has inadvertently claimed lesser interest on house property loan. Assessee tried to rectify the mistake when he discovered the same by filing revised return but the same was not entertained by the authorities below and held that such claim cannot be revised u/s 154 of the Act as it was not made in the timely return of income filed. Tribunal noted that Hon’ble Supreme Court in case of Goetze (India) Ltd. vs. CIT 157 taxmann.com 1 (SC) has held that it would not impinge upon the powers of the ITAT to admit the claim otherwise than by revised return. Tribunal in the interest of substantial justice admitted the claim and remitted the issue to the file of AO to consider the revised return and pass an order in accordance with law.
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