Section 12 - Amendment of section 139 - Taxation Laws (Amendment & Miscellaneous Provisions) Act, 1986

12. Amendment of section 139. In section 139 of the Income-tax Act, - (a) in sub-section (3), for the portion beginning with the words within such further time and ending with the words in his discretion, allow , the following shall be substituted with effect from the 1st day of April, 1987, namely :- by the thirty-first day of July of the assessment year relevant to the previous year during which the loss was sustained ; (b) after sub-section (9), the following sub-section shall be inserted and shall be deemed to have been inserted with effect from the 1st day of April, 1986, namely: - (10) Notwithstanding anything contained in any other provision of this Act, a return of income which shows the total income below the maximum amount which is not chargeable to tax shall be deemed never to have been furnished: Provided that nothing hereinbefore contained shall apply to,- (a) a return furnished in response to a notice under sub-section (2) or section 148; (b) a return of a partner of a firm; (c) a return of a person who has claimed exemption of income from property held for charitable or religious purposes; (d) a return of loss which has been furnished before the thirty-first day of July of the assessment year relevant to the previous year during which the loss was sustained; (e) a return furnished under sub-section (4B) in respect of a political party; and (f) a return furnished in support of a claim for refund under section 237. .