want of provisions in the Act.
The claim made without valid revised return u/s 139(5) cannot
be entertained by the Assessing Officer (Supreme
erred in having treated the revised return filed u/s. 139(5) of the Act
as invalid and the Ld. CIT(A) misdirected himself ... alleged ground that condition precedent
for a valid revised return had not been fully complied.
(2) That, the Ld. revenue authorities have erred in treating
revised return can
be filed only if any omission or wrong statement in the return is
discovered by the assessee and the revised return ... cases, the original returns were filed
sometime in October 2006 and the revised returns were filed on
24.12.2007. The revised returns were therefore filed beyond
incurred by the assessee on sale of shares, and revised it to
Rs.29,25,207/- after applying the inflation indexation cost. Therefore, the
assessee ... case where the claim was later withdrawn
voluntarily by filing the valid revised return of income permitted u/s 139(5)
of the Act before
issued
subsequent to the filing of valid revised return.
3. That on facts and in circumstances of the case ... section 143(2) was issued subsequent to the
filing of a valid revised return.
19.That the Appellant has filed her revised return of income
issued
subsequent to the filing of valid revised return.
3. That on facts and in circumstances of the case ... section 143(2) was issued subsequent to the
filing of a valid revised return.
19.That the Appellant has filed her revised return of income
revised
return of income. Therefore, the action of the lower authorities in taking the
returned income as per original return of income is not justified ... assessee had already filed a valid revised return within the statutory period
and has also explained the issues satisfactorily to the Assessing Officer for
which
revised
return of income. Therefore, the action of the lower authorities in taking the
returned income as per original return of income is not justified ... assessee had already filed a valid revised return within the statutory period
and has also explained the issues satisfactorily to the Assessing Officer for
which
Andhra Cottons Mills Limited and
"....For a valid revised return under s. 139(5) it is necessary that omission or
wrong statement ... opening paragraph of this
submission, the so-called revised Return of Income was not a valid Return of
12
ITA No.3202/Mum/2018
claim of reduced loss in revised
return. The learned Counsel further submitted that revised return
has been filed validly in terms of section ... revised return is filed, it substitutes the original return
of income and, therefore, the only return that has to be assessed
is the revised return
