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12. The Appellate Authority held that once a revised return has been filed validly, an Assessment Order cannot be passed on the basis of the notice issued under Section 143(2) on the original return. It was not open for the Assessing Officer to advert to the original return or the statements filed along with the original return, and only the revised return has to be taken into account for the purpose of making the assessment.

The order dt.19.12.2022 of the ITAT

13. Challenging the same, the Revenue filed I.T.A. No.297/GAU/ 2018 before the Income Tax Appellate Tribunal, Kolkata.

28. For some reason in the instant case, the Assessing Officer took no notice of the revised return, and continued the proceedings on the basis of the original return and passed an Assessment Order on 18.03.2016. This is a clear illegality vitiating his order.

29. The CIT (Appeals) noted the correct legal position as set out above, and also gave a finding of fact that there was a bona fide mistake that impelled the assessee to file the revised return on 23.02.2015 i.e. it was necessitated due to comments given by the CAG. It also noted that once a valid revised return is filed, the Assessing Officer has to take cognizance of the same, and he had to issue notice under Section 143(2) on the revised return. The Assessment Order was totally silent about the revised return which disclosed a loss of (-) Rs.194,75,04,007/-, and that loss had not been considered in the final computation of income. He, therefore, rightly held that the assessment proceeding was vitiated.