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TMI Blog2021 (12) TMI 55X X X X Extracts X X X X X X X X Extracts X X X X ..... the appointed date as per the order of the NCLT is fixed on 01.04.2017, the petitioner would be entitled to file the revised return and in wake of the decision of this Court in case of Babubhai Ramanbhai Patel [ 2017 (7) TMI 744 - GUJARAT HIGH COURT ] the original return u/s 139(1) will pay insignificance and would not survive. The respondent authority therefore not considered the revised return and needs indulgence at the ends of the Court. Resultantly, the assessment which has been finalized shall need to be quashed permitting the respondent to process considering the revised return which has been filed by the petitioner. If it is not filed in an electronic manner as has been reflected in the affidavit-in-reply, he should be permitted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... : HONOURABLE MS. JUSTICE SONIA GOKANI 1. The petitioner is before this Court seeking following reliefs: 7 (a) Direct the Respondents to accept and process the revised return of income of the Petitioner for AY 2018-19 as filed on 28.07.2020 at Annexure- C3 to this Petition; (b) Pending the admission, hearing and final disposal of this petition, to direct the Respondents to accept and process the revised return of income of the Petitioner for AY 2018-19 as filed on 28.07.2020 at Annexure- C3 to this Petition; (c) any other and further relief deemed just and proper by granted in the interest of justice. 2. Brief facts leading to the present petition are as follow: 2.1 The Deep Industries Limited was having ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... vised return of income filed by the petitioner and has passed the Assessment Order in case of Deep Energy Resources on 04.05.2021, the erstwhile Deep Industries Limited, on the protective basis adding ₹ 102,08,97,103/-. 2.6 This is a major grievance on the part of the petitioner. According to whom, by the time, NCLT passed the order, the time limit to file the revised return under Section 139(5) of the Act had expired and it was not possible for the petitioner to file the revised return online and though it had attempted to so do it, it was not permitted and this approach on the part of the respondent is sought to be challenged. 2.7 Affidavit-in-reply is filed by the respondent urging inter alia that this was protective assessme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... earned senior standing counsel, Ms.Mauna Bhatt. 6. According to the learned advocate, Mr.Bandish Soparkar, the issue of revised return pursuant to the demerger on account of the order of the NCLT no longer is res integra. He has sought to rely on the decision of DALMIA POWER LIMITED VS ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE-1, TRICHY, reported in (2020) 420 ITR 339 (SC). According to him, the Apex Court had examined the provision of Section 139(5) in particular to hold that the provision is not applicable since the revised returns were not filed on account of omission or wrong statement. The delay occurred on account of the time taken to obtain the sanction of the Schemes of Arrangement and Amalgamation from the NCLT, if it ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n facility on 26.06.2020 and once there was no response, he physically filed the revised return on 28.07.2020. 8.1 The petitioner s revised return was not considered obviously because that is impermissible as the same was not filed electronically. However, this was in complete disregard to the fact that the order of the NCLT had come on 17.03.2020 and therefore, it was not possible for the petitioner to so do it within time framed as set under Section 139(5) of the Act as the appointed date as per the order of the NCLT is fixed on 01.04.2017, the petitioner would be entitled to file the revised return and in wake of the decision of this Court in case of Principal Commissioner of Income-Tax Others Vs. Babubhai Ramanbhai Patel the or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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