validly withdrawn its exemption u/s
10B , earlier claimed in the original return by validly
ITA No. 400 of 2005 -2-
filing a revised return
requirement that the declaration shall be filed along with the return of income is a procedural requirement. The legislative intent appears to be that while ... years to file a return under Section 139(4) or a revised return under Section 139(5) and it could validly file the declaration
return so filed was a legal and valid return and the second return filed on 26th March, 1968, was only a revised return under Section ... valid return. The Appellate Assistant Commissioner held that the return filed on 18th February, 1964, was not a valid return. He also held that there
revised return was substituted for the original return, the assessment could be framed only against the legal heirs who had filed the revised return. Since ... annulment was not at all valid inasmuch as the assessment had been completed on the basis of the revised return and in the presence
assessee for refund on the ground that the revised return
filed by him was not a valid return. The petitioner thereafter sent a letter
dated ... file the revised return after complying with the provisions of
Section 139(5) of the Act up to 31.3.2007. The revised return filed
revised return was substituted for the original return, assessment could be framed only against the legal heirs who had filed the revised return. Since ... annulment was not at all valid inasmuch as assessment had been completed on the basis of the revised return and in the presence
Counsel for the assessee submits that proceedings to
revise an accepted return can be validly initiated only if there is
suppression of relevant facts
first revised return,
(2) In the original return and in the first revised return, the assessee had shown the value of 7,342 shares held ... return and that the first revised return need not be looked into for that purpose. The IAC held that all the returns were valid returns
view of
paragraph 6 of the return, this stand is not justified. The stand is taken in
the return is that the scale ... higher qualification is valid and only those persons,
who are matric with ITI in the concerned trade are entitled to the revised
pay scale, whereas
Officer quietly accepted the revised return and the income disclosed therein. He did not record how and why the revised return was submitted. The statement ... explain the reasons which led to filing of the revised return. Learned counsel for the assessee contended that those reasons were impliedly accepted
