1996 (11) TMI 47

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..... the circumstances of the case, the Tribunal was right in holding that the return filed by the assessee on March 12, 1985, was a valid return under section 139(4) and the extended period of limitation in terms of section 153(1)(c) of the Income-tax Act, 1961 ? " The Tribunal has found that the return filed by the assessee on March 12, 1985, being a return filed within the time prescribed under s .....

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..... t be attracted. In this case, the first return was filed on September 30, 1982, that is, beyond the period prescribed under section 139(1). This return was also not pursuant to notice under section 139(2) and, therefore, it could not be revised under section 139(5). In view of the decision of the Supreme Court the question deserves to be answered in favour of the assessee. We may however, note t .....

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