[aaykarbhavan] No disallowance of loss claimed in return field u/s 153A after the due date prescribed under sec. 139(1)

 

No disallowance of loss claimed in return field u/s 153A after the due date prescribed under sec. 139(1)

April 9, 2015[2015] 55 taxmann.com 444 (Kolkata - Trib.)/[2014] 34 ITR(T) 549 (Kolkata - Trib.)

IT : Raw materials purchased by assessee for first time production would be allowable as revenue expenditure

IT : Where assessee did not file its return under section 139(1) as he was statutorily required to file its return under section 153A, loss claimed by assessee could not be disallowed on ground that return was filed after due date

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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