statute then original return would include revised
return of income. In the instant case, since only return of income has been stated in the
statute ... argued that the AO ought
to have taken cognizance of the valid revised return that was very much available before
him while framing assessment
return of income furnished originally was revised on 31st Oct., 2002. It was thus a validly revised return of income, and cannot be ignored ... return of income furnished originally was revised on 31st Oct., 2002. It was thus a validly revised return of income, and cannot be ignored
Assessing Officer as the same was not made by way of revised return
validly filed by the assessee bank. The Ld. CIT(A) not only
spot as the racket is unearthed, that they hurriedly filed revised returns admitting the said amount as income from "undisclosed sources ... categorical finding that the returns cannot be considered to be valid revised returns under Section 139 of the Act and it was not a voluntary
original return filed under Section 139(1)
without taking into consideration the revised statement filed on 08.12.2008
in absence of revised return as contemplated under ... adduce evidence in
support of his particulars disclosed in the return/revised return validly filed
under the statute including the claim of exemption/deduction
Income Tax Act, 1961 in its return or by filing a valid revised return as held by the Hon'ble Supreme Court in Goetze ... available to Assessee is to file a revised return. This view taken by Assessing Authority was held valid.
19. In the present case, Assessee claimed
Therefore, it is submitted that when there was no valid revised return on the file of the Assessing Officer, the question of considering such return ... whether the revised return for the assessment year 2002-03 filed by the petitioner on 24.3.2005 was valid. While considering this issue, the Commissioner relied
return can be filed only when there is a valid original
return. As the original return itself has held to be not valid,
the revised ... submitted that the return of income filed by the assessee on
30th March, 2016 is a valid return. Further if the return filed
Tribunal
has observed that if the income declared in the revised return which is
valid and filed within the limitation period prescribed for filing ... penalty in
respect of the income declared through validly filed revised return,
however, the penalty @ 100% of the tax amount sought to be evaded
though the claims have not made in the original return or by filing
revised return based on the decision in the case of Goetze India ... allowable if the Form 10CCB is
filed even along with valid revised return.
9. Against this backdrop the facts of the instant case are examined
