time-limit prescribed and subsequently, files the revised return
then the revised return is treated as valid return. In the present
case, as the assessee ... filed its original return declaring the positive
income and hence, in our opinion, subsequent revised return is valid return
also and the assessee is entitled
Authorities below for rejection of revised return is not correct in the
eyes of law. The revised return being valid, is to be accepted ... valid revised return of income is filed by assessee, it completely
effaces and obliterates original return and, therefore, it is only revised return
that
response to notice, no
return of income was filed by the assessee . However, revised return
of income was filed on 14.12.2011, wherein profits and gains ... accordance
with law notwithstanding the fact that there is no valid revised return
in response to notice issued u/s.148 of the Act. There
ground that the revised return in ITR V is
time barred is not correct while the said valid return was processed under
section ... appellate order, the ld. CIT(A) has observed that the
valid revised return filed by the assessee was processed under section
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
claim can be made except
through a valid return of income or a valid revised return of
3
ITA No. 590/Del/2019
income ... made during the appellate proceedings except
through valid return of income or a valid revised return of income
is not correct in view
return may be deemed to have been revised. AO observed that a valid revised
return for the AY 2006-07 could have been filed only ... deemed to have been revised, is not sustainable.
Because neither the claim was made filing a valid revised return within
31.03.2008 nor it a legal
Export India Pvt. Ltd.)
wherein the AO has stated that revised return dated 29/03/2013
showing the total income ... original
return of income filed by the appellant. The second return of income filed
by the appellant was not a valid revised return of income
same and did not file its revised return, before 31 March, 2017. Revised return being not filed, the deemed/self assessment proceedings under section ... days time to the assessee to revise his return. In case, he files a revised return to the satisfaction of the assessing officer, the legal
