9911796707
|
Home
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1997 (3) TMI 88 - HC - Income TaxAssociation Of Persons Body Of Individuals Carrying On Business Minor Child Representative Assessee
Issues:
Validity of the return of income filed by the assessee without proper signature and verification under section 140 of the Income-tax Act, 1961. Analysis: The High Court of Madhya Pradesh addressed the issue of the validity of an income-tax return filed by an assessee without proper signature and verification. The case involved a registered firm that submitted a return of income for the assessment year 1981-82, which was not signed by any of the partners as required under section 140 of the Act. The Income-tax Officer considered the return invalid and issued a notice under section 148. The assessee subsequently filed another return with the same income figure, which was properly signed. The Income-tax Officer imposed interest for the late filing of the second return. The Commissioner of Income-tax (Appeals) deemed the omission to sign the return as a curable irregularity, but the Income-tax Appellate Tribunal disagreed, stating it was not a curable defect under section 292B of the Act. The High Court examined the provisions of section 140 of the Act, which mandate that every return must be signed and verified by the appropriate person based on the type of entity. It emphasized that failure to sign and verify a return renders it invalid in the eyes of the law. While section 292B allows for minor defects to be cured if they do not undermine the intent and purpose of the Act, section 140's mandatory language regarding signature and verification overrides this provision. The Court highlighted that the use of the term "shall" in section 140 signifies the mandatory nature of signing and verifying a return. Therefore, any return filed without proper signature and verification cannot be considered valid. In conclusion, the High Court upheld the Tribunal's decision, ruling in favor of the Revenue and against the assessee. The judgment clarifies that a return of income must be signed and verified in accordance with section 140 of the Income-tax Act, and failure to do so results in the return being deemed invalid.
|
