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2024 (2) TMI 607 - ITAT INDOREProcessing of invalid return u/s 143(1) - Denial of exemption u/s 10(23C)(iiiad) - Non-filing of ITR-V within 120 days made the assessee’s return as ‘invalid’ being deemed to have been never filed which was picked for processing - Assessee filed 2nd belated return u/s 139(4) - As the 1st return had become nonest and it is the 2nd return which was a valid return in the eyes of law, despite this, the CPC picked 1st return, processed same and issued intimation u/s 143(1). HELD THAT:- 1st return filed by assessee was an invalid return because of non-filing of ITR-V within prescribed period of 120 days. Therefore, the intimation dated 27.03.2017 issued by CPC on the basis of said return was also invalid. Since the assessee had already filed 2nd return on 04.03.2017 which was a valid return u/s 139(4) and which was available in the departmental database on 27.03.2017 at the time of processing u/s 143(1), the CPC ought to have taken into consideration the 2nd return and subject it to processing. Therefore, we set aside the order passed u/s 154 and 143(1) and remand the matter to the record of the AO to verify and examine the relevant record and then consider the claim of assessee u/s 10(23C)(iiiad) of the Act. Before passing order, the assessee shall be given an appropriate opportunity of hearing. Appeal of assessee allowed.
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