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2003 (3) TMI 8 - BOMBAY HIGH COURTWhether the authorities under the Income-tax Act, 1961, were justified in treating the revised return for the AY 1991-92 and the original return for the year 1992-93 as invalid u/s 139(9) - Tribunal has held that even though the return is held to be invalid, the assessee is not debarred from furnishing any evidence in support of any claim though not made in the original return. - We set aside the intimation of the Assessing Officer dated March 30, 1993, treating the return filed by the petitioner on December 30, 1992, for the AY 1992-93 as an invalid return - Action or rather, inaction on the part of the Assessing Officer in treating the return filed by the petitioner as invalid and then not finalising the assessment because there is no taxable income, is wholly improper and contrary to the scheme of taxation law. - Whether there is income or loss, the Assessing Officer is bound to finalise the assessment for the assessment year in which the return filed by the assessee is treated as an invalid return. Not to do so would be travesty of justice. - Accordingly, the petition is allowed.
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