once the revised return is filed under Section 139(5) of the Act, the original return is substituted by the revised return. He argued that ... with reference to the revised return and not to the original return, which stood substituted by the revised return and the notice dt. 19th April
decision of the Tribunal for
accepting the revised return and hence once the revised
return becomes valid, it partakes the colour of the original
return ... observing the effect of the revised return and the omission
of the assessee, has held the revised return as valid which has
been confirmed
return was not a valid return and
rejected the contention of the assessee that since
particulars of depreciation were not given in the revised
return ... original return the assessee would not
be able to withdraw his claim for depreciation as in that
case revised return would not be valid within
would be the revised return which has got to be seen for penalty purposes and once the revised return discloses the true income, the question ... revised return is as good as any other return under Section 139 , and for purposes of penalty take the view that a revised return validly
return filed on October 5, 1968, could not revise such a return, as a revised return is contemplated only in cases where a return ... return under s. 139(2) . If so much is granted, then the return under s. 139(5) would be a valid revised return
Tribunal is right in law while holding that when once a valid revised return was filed by the assessee, it completely effaces and obliterates ... when the revised return was a valid return, the Income-tax Officer could not have referred to the withdrawn original return. That
revised return filed in pursuance of a notice under Section 148 was immaterial. The relevant return was the original return and if that return ... return amends the original return. The original return stands amended or revised and in such circumstances the revised return is the only validly existing return
second revised return, in view of the fact that the first revised return filed under Section 139(5) actually becomes the original return under Section ... affidavit, that the revised return is not worth the piece of paper on which it is written. In the revised return, the petitioner has chosen
Fashionways (supra), it was held that where the assessee filed a revised return prior to the completion of the assessment wherein he corrected the earlier ... pursuance to notices u/s 148 were legal and valid revised returns u/s 139(5) of the Act. Therefore , the above decision
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
