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ITAT directs AO to set off Business Income with carry forward Business Loss on grounds of Assessee's Return becoming valid u/s 139(1) after defect was removed from Original Return
The Kolkata bench if the Income Tax Appellate Tribunal (ITAT) held that when original return filed is defective and the defect is removed under...
![Rectification in Revised Return allowable Despite Late Filing of Original Return: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2023/05/Rectification-in-Revised-Return-Revised-Return-allowable-Despite-Late-Filing-of-Original-Return-Revised-Return-Despite-Late-Filing-of-Original-Return-Original-Return-Late-Filing-ITAT-Taxscan.jpg "Rectification in Revised Return allowable Despite Late Filing of Original Return: ITAT [Read Order]")
![ITAT directs AO to adjudicate issue of additional Depreciation not claimed either in Original Return or in Revised Return [Read Order]](https://www.taxscan.in/wp-content/uploads/2021/03/ITAT-AO-additional-depreciation-original-return-revised-return-taxscan.jpeg "ITAT directs AO to adjudicate issue of additional Depreciation not claimed either in Original Return or in Revised Return [Read Order]")
![When Validly Revised Return filed pursuant to notice u/s 153A, is accepted, Defects found in Original Return cannot be considered for Imposing Penalty: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/10/Revised-Return-Taxscan.jpg "When Validly Revised Return filed pursuant to notice u/s 153A, is accepted, Defects found in Original Return cannot be considered for Imposing Penalty: ITAT [Read Order]")