original return of income
filed on 28.11.2016.
(ii) The claim made in the revised return of income is not
valid for the reason that ... which according to
the Assessing Officer, is not a valid revised return for the reason
that there is no bona-fide omission or mistake
return can be filed only when there is a valid original
return. As the original return itself has held to be not valid,
the revised ... submitted that the return of income filed by the assessee on
30th March, 2016 is a valid return. Further if the return filed
overrides other provisions and the appellant had made the
claim through valid revised return.
5. General
5.1 The appellant craves leave to add, amend, alter
return already filed under sub-
section (1) of section 139 or return filed under sub- section (1) of section 142.
This revised return ... year and therefore the
return filed is a valid return as per the provisions section 139(5), as the original
return was filed under section
claimed
the above TDS of Rs. 12,70,656/- in the return of income. In view of the decision
of the Hon'ble Supreme ... deduction could not be made without a valid revised return. Since in
the instant case the return has not been revised within the meaning
revised return
is validly filed u/s. 139(5) , the original return filed earlier ceases to exist.
The only valid return is the revised return ... Subsequently, assessee has filed its revised return of
income on 31.03.2022 and CPC has also accepted the revised return of
income in which assessee
said
claims were not made by way of filing a valid revised return, those claims
cannot be entertained. Accordingly the ld. AO completed the assessment ... claims were not made by the assessee by way of a valid revised return.
However, the decision of Hon'ble Supreme Court
date for filing the revised return u/s.139(5) of the Act was 31.3.2016 and
the first revised return had been filed ... second revised return had been filed on 18.2.2016. It was the
submission that as the assessee has filed its revised return within the due
date
submitted the revised return revising total income to Rs.1,31,03,060/-.
However, the Assessing Officer has taken up the returned income ... revised return of income. Therefore, the action of the lower authorities in
taking the returned income as per original return of income is not
justified
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
