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2014 (10) TMI 5 - HC - Income TaxRevised Return u/s 139(5) - period of limitation - Intimation u/s 143(1) - belated and invalid or not – Whether the Tribunal was justified in law in holding that issue of the intimation u/s 143(1) for the AY 1999-2000 on August 08, 2000 amounted to completion of assessment within the meaning of section 139(5) disabling the appellant from filing a revised return and that the revised return filed on March 31, 2001 was belated and invalid – Held that:- The provision contemplates an assessment without prejudice to the provisions of sub-section (2) of the section where under the AO shall, if he considers it necessary, serve on the assessee a notice requiring him, on a date to be specified therein, to attend his office or to produce or cause to be produced there, any evidence on which the assessee may rely in support of the return and after taking into account all relevant materials the Assessing Officer shall by an order in writing make an assessment - Thus the provision for assessment to be made for the purpose of issuance of an intimation u/s 143(1) of the Act reserving the authority of the AO to resort to the provisions under sub-section (2) thereof, cannot be said to be completion of assessment and, therefore, limit the time otherwise available to file revised return – relying upon Assistant Commissioner of Income-Tax Versus Rajesh Jhaveri Stock Brokers P. Limited [2007 (5) TMI 197 - SUPREME Court] – Decided in favour of assessee.
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