AVALON INFRASTRUCTURES PVT. LTD.,DELHI vs. CIRCLE 3(2), DELHI

The assessee’s foremost substantive ground is directed against both the learned lower authorities’ action in disallowing carry forward loss for the sole reason that its return filed on 01.11.2019 at 00:00:37 is a belated one which could not be treated as that u/s 139(1) of the Act. The Revenue could hardly dispute that the learned departmental authorities have themselves considered the assessee’s impugned return as a valid one filed u/s 139(1) of the Act. Their impugned stand therefore appears to be a mutually contradictory and in not entertaining the assessee’s carry forward losses at in the same time is not sustainable in law. The learned assessing authority is directed to consider and verify all the relevant details regarding the assessee’s carry forward losses in these facts and circumstances.

Learned Counsel does not want to press the assessee’s claim of disallowance of Rs.6,56,193/- u/s 36(1)(va) on account of deposit of ESI/PF beyond the “due” date. Rejected accordingly.

The assessee’s appeal is partly allowed.