Rectification in Revised Return allowable Despite Late Filing of Original Return: ITAT [Read Order]

The Delhi bench of Income Tax Appellate Tribunal (ITAT) has held that the rectification in revised return would be allowable despite the late filing of original return.

The assessee,Navneet Dutta filed his original return of income on 10.01.2012 declaring total income .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 declaring total income, claiming loss from house property which resulted in refund.

On receipts of rectification applications, the record and details was duly perused and found that in the original return, which was filed after the due date of filing income tax return, on 10.01.2012, the assessee had not claimed loss from house property. The AO held that since the original returns were filed after the due date the same could not be revised and held that the loss from house property claimed in revised return was not tenable.

Vikram Kakar,appeared on behalf of the assessee and Sumit Kumar Verma who appeared on behalf of the revenue submitted that this revised claim should have been made by a proper return of income as it was not it could not be allowed.

The two-member Bench of Shamim Yahya (Accountant Member) and Astha Chandra (Judicial Member) allowed the appeal filed by the assessee. The Bench referring to the Supreme Court decision in Goetze (India) Ltd. vs. CIT  held that their order in that case would not impinge upon the powers of the ITAT to admit the claim otherwise than by revised return. Hence, in the interest of substantial justice, this claim would be admitted and we remit the issue to the file of AO to consider the revised return and pass an order in accordance with law.

To Read the full text of the Order CLICK HERE

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