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TMI Blog2017 (9) TMI 578X X X X Extracts X X X X X X X X Extracts X X X X ..... ted company carrying on business of manufacturing and sale of cotton, ginning, spinning and allied products and power generation, filed return of income for the assessment year 2011-12 on 23.9.2011 declaring total income of Rs. 3,32,45,620/-. The return filed by the assessee was processed on 10.2.2012 and the assessee's case was selected for scrutiny. Subsequently, the assessee has filed a revised return on 28.3.2013 declaring total income of Rs. 2,63,45,860/-. The A.O. has not considered the revised return filed by the assessee dated 28.3.2013 on the ground that the return filed by the assessee initially was processed u/s 143(1) of the Income Tax Act, 1961 (hereinafter called as 'the Act') and assessment was completed u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... filed by the assessee. s it is filed within stipulated time. The assessee has filed the original return of income of the assessment year 2011-12 within the stipulated time u/s.139(1). An intimation u/s.143(1) dated 10.02.2012 was served on the assessee. Consequent to High Court of Andhra Pradesh there is merger of Janapadu Hydro Power Project Pvt. Ltd., with the assessee company. The assessee has filed a revised return of income for the assessment year 2011-12 on 28.03.2013, i.e., within the statutory time limit prescribed u/s. 139(5). The assessee would like to state for the purpose of completing the assessment u/s.143(3) of the I.T. Act, an intimation u/s.143(1) is not an assessment except for the purpose of sections 246 and 164 i.e., ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on 143(1) is not an order of assessment." Hon'ble Kolkata High Court in the case of Kalyanpur Cement Ltd. Vs. JCIT (2005) 195 CTR (Cal) 39, the assessee filed return under section 139(1). The return was processed u/s.143(1)(a). However, no notice u/s.143(2) was issued in relation to the original return. The assessee validly filed a revised return after issuance of intimation and, therefore, the assessee was also entitled to file another revised return of income. It was held that the intimation issued by the Assessing Officer u/s.143(1)(a) cannot be considerate as completion of assessment and therefore revised return was held valid because second revised return was also filed within prescribed time and before completion of assessment. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in view of the fact that as per section 139(4) of the Act, the assessee has furnished the revised return at any point of time before expiry of one year from the end of the relevant assessment year or before completion of the assessment, whichever is earlier. In this case, processing u/s 143(1) of the Act was completed on 10.2.2012, therefore, the revised return filed by the assessee is invalid and not considered. We find that the assessing officer is of the view that once the return filed by the assessee is processed u/s 143(1) of the Act, therefore, the assessment is completed and the revised return filed by the assessee is rejected. However, the A.O. has completed the assessment in the assessee's case u/s 143(3) of the Act dated 13.3.2014 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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