during the course of assessment proceedings the assessee filed a re-revised return on 17th March, 1987, on an income ... huge income in the original return, the second return filed by the assessee cannot be regarded as a "revised return" filed under Section
that the revised return, dated 10.1.2007, be ignored and the
first return should be treated as the correct and true return. Revised
computation was filed ... revised return. Further, the time period for
filing of a revised or re-revised return under Section 139(5) had
come to an end. Thus
under Section 80P(2)(c)(ii) . Subsequently, a
revised return was filed by the assessee on 13.12.2007,
declaring income ... this revised return, in
addition to the claim of deduction under Section 80P(2)(c)(ii)
amounting to Rs.50,000/-, the assessee also claimed
further revised on
28.8.2004 to an income of Rs 64,44,010/-. As per the Assessing Officer, in the
revised and re-revised return ... revised and re-revised within
time on retraction of agreement by the Department. It is trite law that once a valid revised
return is filed
return and offered right rate of taxation
as done in the original return. The Ld. DR has submitted that the second revised
return ... original return and for all legal and procedural
purposes, the original return cease to exist on filing of a valid revised return.
Therefore, the decision
either in the original return of income or by way of revised return, the assessee's request cannot accepted in view of the decision ... even though the same was not claimed by way of a revised return; (ii) that the impugned deduction on payment basis was legally admissible claim
alia, observed by the A.O. that the
assessee filed re-revised return on 22.12.2008 declaring total income of `
99,83,119/-. The reason ... revising return is stated to be that due to
an inadvertent mistake, the assessee has claimed in the revised return,
the short term capital gain
papers serially numbered 1 to 67.
After interrogation, the assessee filed revised return of income on 17.01.2006
accepting the sale consideration ... long term capital gains at Rs.5,27,543/- in the revised return of income.
Along with return of income, the assessee also enclosed
subsequently revised
by it on 12.10.2012 declaring total income at Rs.1,06,61,843/-. The
appellant filed the above revised return, since ... revised statement of total income' during the course of assessment
proceedings u/s 143(3) and not 're-revised return of income
action of the AO in not accepting the revised
computation filed through second revised return under section ... Hence, it is not permissible to
revise such revised return. The AO has, therefore,
rightly accepted the revised return filed on
15.03.2013 and assed
