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Showing contexts for: revised return when valid in S.Sathyanarayanan, Chennai vs Acit, Chennai on 20 August, 2019Matching Fragments
18. Now coming to the issue on the merits of the addition, the Assessing Officer ought to have computed capital gains in accordance with law notwithstanding the fact that there is no valid revised return in response to notice issued u/s.148 of the Act. There is no bar to compute the income in accordance with law even in the absence of valid return of income. Therefore we remand this matter back to the file of the Assessing Officer for denovo assessment of capital gains in accordance with law.