Search Return Can Reduce Income; U/s 69A Fails & CSR Eligible U/s 80G

Hubtown Limited Vs ACIT (ITAT Mumbai)

The Mumbai ITAT held that in an abated assessment, the return filed u/s 153A replaces the original return u/s 139 & the assessee is legally entitled to make fresh or additional claims, including reduction of earlier disallowances. Accordingly, the Tribunal upheld deletion of addition of ₹6.66 crore made merely because the loss declared in the 153A return was higher than the loss in the original return, holding that such restriction has no statutory backing in an abated year.

On merits, the Tribunal

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