assessee
could not claim a deduction other than through a valid revised return.
Such a valid revised return having not been filed by the assessee ... Exemptions) and thereafter filed a revised return claiming
exemption under Section 11 of the Act. No doubt, such revised return
was filed after the time
original return filed under Section 139(1)
without taking into consideration the revised statement filed on 08.12.2008
in absence of revised return as contemplated under ... adduce evidence in
support of his particulars disclosed in the return/revised return validly filed
under the statute including the claim of exemption/deduction
because in the original return, the assessee had claimed bogus
expenditure and therefore, the revised return cannot be considered as
valid return ... revised return was not a valid
return u/s 139(5) , as there was no omission or wrong statement in
the original return
2009 the assessee raised a claim (via filing time-barred revised
return) that the paintings must be deemed to be the 'personal effects ... entertained by the CIT(A) in the absence of a valid
revised return.
m) The year-wise position of number of paintings sold and alleged
appellate authority,
challenging the non acceptance of its 'revised return' as a valid return u/s. 139(5) of the
Act, claiming that ... found distinguishable, as the claim
had been withdrawn by filing a valid revised return, which was not the case in the instant
filed a revised
return on 04.06.2008 which itself is not a valid revised return as the
original return was not filed within the time limit ... discussions, we hold that the assessee's
revised return stood duly accepted as a 'valid' return and the assessment
was completed (supra
income from other sources. In the revised
return filed on 31-10-2004 the income from other sources has not
been offered ... that the original
return has no bearing on the assessment once valid revised return
has been filed. He submitted that the receipt does not constitute
Since
the original return of income was filed on 31/10/2007 as a
valid return, the revised return filed on 10/03/2008 ... basis. Similarly, the AO could not ignore the revised
return filed validly.
4 ITA NO. 830/Hyd/11
M/s Goodwill Homes
return and subsequent return filed by him
5 ITA No : 5173/Mum/2011
Shri Mangal Kantilal Chalaliya
could not be taken as validly revised return
also questioned.
(f) The assessee did not file a revised return of income after the
approval of the scheme of amalgamation ... Karnataka which was on 06.02.2010. The assessee
could have filed a valid revised return of income u/s. 139(4) of
the Act till
