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2012 (11) TMI 679 - AT - Income TaxNotice u/s 143(2) for regular assessment u/s 143(3) - computation of period of limitation - Filing of form ITR-V – held that:- The scheme framed by CBDT has clarified that the date of transmitting the return electronically shall be the date of furnishing of return, if the form ITR-V is furnished in the prescribed manner and within the period specified. In this case, the period specified is 31-12-2010 or 120 days from the date of uploading the return whichever is later. Admittedly form ITR-V was received by CPC on 29-11-2010 is within the prescribed time in the prescribed manner in the prescribed form. Hence, for all practical purpose, the date of filing of the return shall relate back to the date on which the return was electronically uploaded i.e. 25-09-2009. Therefore, the contention of the ld.DR that receipt of Form ITR-V is the date of receipt of return has no merit at all - date of filing of the return of income is 25-09-2009. Therefore, the notice served on the taxpayer u/s 143(2) on 26-08-2011 is beyond the period of six months from the end of the financial year in which the return was furnished. Therefore, the notice issued by the assessing officer u/s 143(2) is invalid. Hence, it cannot be acted upon. Consequently, the assessment order passed by the assessing officer cannot stand in the eyes of law. Therefore, the same is quashed. the object behind the filing of form ITR-V the method prescribed by CBDT for transmitting the same by ordinary or speed post and the consequence of not filing the Form ITR-V within the specified time are left open to be decided in appropriate appeal.
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