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| The Tax Publishers2019 TaxPub(DT) 3712 (Mum-Trib) INCOME TAX ACT, 1961
Section 115JB
Since revised computation of assessee was rejected by AO solely on the ground that assessee had not filed the same in the original return of income and the same aspect was confirmed by CIT(A), therefore, matter was remanded back to AO to consider the issue on merits of revised computation submitted by assessee.
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MAT - Book profit under section 115JB - AO rejected revised computation of book profit as assessee not having claimed the same while filing the original return - Computation of
Assessee's case was selected for scrutiny and AO after considering the submission of assessee passed order at the total income as disclosed by assessee under section 115JB. Before CIT(A), assessee submitted that during the course of assessment proceedings, he submitted the revised computation of its book profit declaring total income. It was further submitted that there was an inadvertent computation of book profit under section 115JB as per the income tax return. It was further submitted that AO had not considered the revised computation of book profit under section. 115JB Held: Revised computation of assessee was rejected by the A.O. solely on the ground that assessee has not filed the same in the original return of income. This aspect was confirmed by CIT(A). Decision in the case of Goetze (India) Ltd. v. CIT [(2006) 284 ITR 323 (SC) : 2006 TaxPub(DT) 1528 (SC)] had expounded that ITAT has powers to admit the grounds otherwise than by filing the original return. Therefore, the revised computation submitted by assessee did not deserve to be rejected solely on the ground of not filing it along with the original return and the matter was remanded back to AO for fresh consideration.
Followed:Goetze (India) Limited v. CIT (2006) 284 ITR 323 (SC) : 2006 TaxPub(DT) 1528 (SC)
REFERRED :
FAVOUR : In assessee's favour by way of remand
A.Y. :
IN THE ITAT, MUMBAI BENCH
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