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(2) That on the circumstances of the case, the ld. CIT(A)-1 has erred in fact an law by admitting acknowledgment of return dated 31.07.2008 of the assessee in violation of provision of Rule 46A of the I.T. Rules, 1962.

3. To adjudicate on these grievances, only a few material facts need to be taken note of. The assessee before us is an individual, who has earned income from salary, capital gain and other sources. During the course of assessment proceedings, the Assessing Officer noticed that the assessee has claimed brought forward short-term capital loss amounting to Rs.31,08,911/-. The Assessing Officer further noticed that, based on the ITD database it appears that the return for the assessment year 2008-09, i.e. the assessment year in which loss was incurred, was filed on 23.03.2009. The Assessing Officer was of the view that since due date of filing of return under section 139(1) was 31.07.2008 and since the income tax return disclosing the said loss brought forward was filed beyond the due date, the assessee was not entitled for carry forward of loss to the subsequent years. It was in this backdrop that the claim of set off of brought forward loss of Rs.31,08,911/- was declined. Aggrieved with the stand so taken by the Assessing Officer, the assessee carried the matter in appeal before ld. CIT(Appeals).