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2006 (3) TMI 545 - AT - Income TaxFilling of revised return - Number of times revised return can be filled - assessment had been completed through an intimation u/s 143(1) - second revised return assessee claimed bad and doubtful debts - AO ignored this second revised return on the ground that the assessee loses the right of filing any revised return under section 139(5) after the assessment has been completed - Since the original return and the first revised return were processed u/s 143(1) prior to the filing of second revised return, it is held that the second revised return cannot be entertained as it is invalid and also disallowed the claim of bad and doubtful debts HELD THAT:- We are in total agreement with the finding of learned CIT(A). An assessee can file revised return as many number of times so long as it is within the limitation period and if the assessee discovers any omission or wrong statement therein. If the Assessing Officer takes cognizance of first revised return filed on 23-5-2000, even if the earlier return was processed under section 143(1)(a) on 27-3-2000, since the revised return was filed on 17-1-2001, which is within one year from the end of the relevant assessment year, the same is valid and hence learned CIT(A) was justified in having cognizance of the same. Liability of claim of bad debts - As after the amendment of section 36(1)(vii) w.e.f. 1-4-1989, the assessee is no longer required to prove that the debts have become bad in particular year. So long as the write off is bona fide,, the Assessing Officer cannot question whether the debt has become bad in a particular year. Since what has been written off in the books of account, the same was rightly held allowable by learned CIT(A). Revenue appeal dismissed.
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