2025 (2) TMI 493

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....or assessment year 2017-18. 2. The assessee in appeal has raised as many as seven grounds. The short issue in appeal is disallowance of assessee's claimed of deduction u/s. 80JJAA of the Income Tax Act, 1961 (hereinafter referred to as 'the Act'). The brief facts of the case as emanating from records are: The assessee is engaged in manufacturing and trading of copper & copper alloy foils, strips, sheets and flat role products. The assessee filed its original return of income for impugned assessment year on 31.10.2017. Thereafter, the assessee filed revised return of income on 18.09.2018 claiming deduction u/s. 80JJAA of the Act. The Assessing Officer (AO) rejected assessee's claim of deduction u/s. 80JJAA of the Act at threshold on t....

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.... claimed. Merely, for the reason that deduction has not been claimed in the original return of income filed u/s. 139(1) of the Act is procedural irregularity. What is relevant is that at the time of making assessment, the relevant details were available before the AO. In support of his submissions he placed reliance on following decisions: 1. CIT vs. G.M Knitting Industries (P.) Ltd. & AKS Alloys (P.) Ltd., 2015 (11) TMI 397 decided on 27.07.2015; & 2. Tarasafe International P. Ltd C/O Dutta Properties vs. DDIT, 2024 (10) TMI 363 decided on 03.10.2024. 4. Per contra, Shri Vipul Kashyap representing the department vehemently defending the impugned order submits, that in order to claim deduction u/s. 80JJAA of the Act, th....

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....f the Act was available with the Assessing Officer. The assessee's claim was rejected at threshold by the Assessing Officer as he was of the view that claim of deduction u/s. 80JJAA of the Act was not made in the time. 6. The AO completed the assessment based on assessee's revised return of income. Once, the AO accepts revised return of income, the AO is bound to consider deductions claimed therein. The assessee's claim of deduction cannot be rejected at threshold on the ground that revised return of income was beyond time. The Hon'ble Apex Court in the case of CIT vs. G.M Knitting Industries (P.) Ltd. and AKS Alloys (P.) Ltd. (supra) has held that even if the prescribed form for claiming deduction is filed during assessment proceedings,....