revised return at any time before the expiry
of the period prescribed therein. In the present case, there is no controversy that
the revised return ... revised and re-revised within
time on retraction of agreement by the Department. It is trite law that once a valid revised
return is filed
inaccurate,
the liability would arise........"
11. In this case, the revised return filed on 13.3.2006 has no doubt been filed
within the period prescribed ... present case, where the assessee is found to have furnished a valid
revised return under section 139(5) and income in such return has been
appeal, the Ld. CIT(A) held that the revised return filed by the
assessee was valid return; that the subsidy ... revised return under section 139(5) treating the same as capital receipt and
that the Ld. CIT(A) has held the revised return as valid
holding that Form 67 filed before filing revised return was out of
time and thus not valid such. Such action being erroneous,
unlawful and untenable
which is at
pages 675-679 of Paper Book). Thereafter a revised return
was filed on 31.03.2018 (copy of acknowledgement is at
pages ... even the revised return has been filed within time
allowed under section 139(5) of the Act. Both the returns are
valid
assessee had filed the
revised return of income on 30.03.2017. Till the date of filing of revised return
of income, the assessee had invested ... filing of revised return of income. When the
revised return of income filed under section 139(5) of the Act is a valid return
based on valuation report of an expert the
assessee filed the revised return of income reducing the royalty
income. The Assessing Officer was not convinced ... assessee
submitted that the royalty income offered by the assessee in
revised return of income is based on valuation report of a world
renowned expert
course of the assessment proceedings by filing a revised
computation of income, could have been validly imposed. It
was further submitted ... then, it would have filed a
revised return of income, which, however, not having been so
done, therein clearly revealed the malafide intention
Jcb India Ltd., New Delhi vs Dcit, Circle- 13(2), New Delhi on 19 January
Dcit, New Delhi vs M/S. Ess Distribution (Mauritius),, ... on 21 November, 2022
Author: G
