Bharat Mithalal Jain. v. ITO (2025) 212 ITD 232 (Mum) (Trib.)

S. 147: Reassessment-Industrial undertakings-Lower deduction in original return-Higher deduction in response to notice u/s 148-Deduction cannot be denied. [S.80IA, 148]

On appeal the Tribunal held that the assessee is entitled to get statutory deductions under Chapter VI-A as per limit prescribed and cannot be denied benefit of same simply on reason that earlier in original return of income, assessee had claimed lower amount than amount claimed in subsequent return of income filed in response to notice under section 148, especially when subsequent return had been accepted. (AY. 2015-16)

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