August 2019

Sections 48, 54F, 19 and 143 of ITA, 1961 Assessment Duty of Assessing Officer It is a sine qua non for the AO to consider claims of deduction / exemption made by the assessee and thereafter to return the said claims if the assessee is not entitled to the same by assigning reasons

K. B. BHUJLE
Advocate

31.  Deepak Dhanaraj vs. ITO; [2019] 107 taxmann.com 76 (Karn.)

Date of order: 28th May, 2019

A.Y.: 2016-17

 

Sections 48, 54F, 19 and 143 of ITA, 1961 Assessment Duty of Assessing Officer It is a sine qua non for the AO to consider claims of deduction / exemption made by the assessee and thereafter to return the said claims if the assessee is not entitled to the same by assigning reasons

 

For the A.Y. 2016-17 the petitioner-assessee had filed a return of income on 30th March, 2018 offering to tax the capital gains along with other sources of income. The said return was held to be a defective return. The assessee thereafter filed a revised return on 18th September, 2018 declaring long-term capital gains and claiming deduction u/s 48 and exemption u/s 54F of the Income-tax Act, 1961. The AO completed the assessment u/s 143(3) without considering the return and the revised return and the claims for deduction / exemption u/ss 48 and 54F.

 

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