ITAT’s Powers to Admit Claim Otherwise than by Revised Return

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 thi...