Dismissing the appeal of the revenue the Court held that,once the assessment gets abated, the original return filed u/s 139(1) is replaced by the return filed u/s 153A. It is open to both parties, i.e. the assessee and revenue, to make claims for allowance or disallowance. The assessee is entitled to lodge a new claim for deduction etc. which remained to be claimed in his earlier/ regular return of income (CIT v. Continental Warehousing Corporation( Nhava Sheva ) Ltd (2015) 374 ITR 645 (Bom)(HC) , referred) ITA No . 1934 of 2017, dt.05.02.2020) (AY.2008 -09)
PCIT v. JSW Steel Ltd (2020)422 ITR 71 / 313 CTR 129/ 187 DTR 1/ 270 Taxman 201 (Bom)(HC), www.itatonline.org
S. 153A : Assessment – Search- Abated assessment- It is open to both parties, i.e. the assessee and revenue, to make new claims for allowance or disallowance. [ S.132, 139(1) ]