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ACIT, Circle-1 (1) , Guntur Versus M/s. Kallam Brothers Cottons (P) Ltd. And Vice-Versa

2017 (9) TMI 578 - ITAT VISAKHAPATNAM

Revised return rejected - return filed by the assessee processed u/s 143(1) - Held that:- In this case, processing u/s 143(1) of the Act was completed on 10.2.2012, therefore, the revised return filed by the assessee is invalid and not considered. We find that the assessing officer is of the view that once the return filed by the assessee is processed u/s 143(1) of the Act, therefore, the assessment is completed and the revised return filed by the assessee is rejected. However, the A.O. has comp .....

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on the basis of original return. Under these facts and circumstances of the case, we are of the opinion that the order passed by the Ld. CIT(A) has to be set aside and we direct the A.O. to consider the revised return filed by the assessee dated 28.3.2013 and pass the assessment order de-novo in accordance with law. This appeal filed by the revenue is allowed for statistical purposes. - I.T.A. No. 107/Vizag/2017, C.O. No. 49/Vizag/2017 - Dated:- 8-9-2017 - Shri V. Durga Rao, Judicial Member And .....

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otton, ginning, spinning and allied products and power generation, filed return of income for the assessment year 2011-12 on 23.9.2011 declaring total income of Rs. 3,32,45,620/-. The return filed by the assessee was processed on 10.2.2012 and the assessee s case was selected for scrutiny. Subsequently, the assessee has filed a revised return on 28.3.2013 declaring total income of Rs. 2,63,45,860/-. The A.O. has not considered the revised return filed by the assessee dated 28.3.2013 on the groun .....

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ied by the assessee. The facts of the case in brief are that the assessee is a private limited company carrying on business manufacturing and sale of cotton, ginning, spinning and allied products and power generated plant, flied ROT for the A.Y. 2011-12 on 23.09.20 11 declaring total income of ₹ 3,32,45,620/-. The return was processed on 10.02.2012 and the case was selected for scrutiny. Subsequently, the appellant filed revised return on 28.03.2013, declaring total income at ₹ 2,63, .....

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time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier and not considered to revised return filed by the assessee. s it is filed within stipulated time. The assessee has filed the original return of income of the assessment year 2011-12 within the stipulated time u/s.139(1). An intimation u/s.143(1) dated 10.02.2012 was served on the assessee. Consequent to High Court of Andhra Pradesh there is merger of J .....

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other purposes. Hon'ble Gujarat High Court in the case of "S.R. Koshti Vs. CIT (2005) 276 1TR 165 it was held that "The authorities under the Income-tax Act, 1961 are under an obligation to act in accordance with law. Tax can be collected only as provided under the Act. If an assessee, under a mistake, misconception or on not being properly instructed, is over-assessed, the authorities under the Act are required to assist him and ensure that only legitimate taxes due are collected. .....

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position to show that he has been over-assessed under the provisions of the Act, regardless of the whether the over-assessment is as a result of the assessee's own mistake or otherwise, the Commissioner has the power to correct such an assessment under section 264(1) of the Income-tax Act, 1961. If the Commissioner refuses to give relief to the assessee, he would be acting de hors the powers under the Act. Intimation under section 143(1) is not an order of assessment." Hon'ble Kolka .....

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considerate as completion of assessment and therefore revised return was held valid because second revised return was also filed within prescribed time and before completion of assessment. Taking into consideration the totality of the facts and circumstances and the court judgements the processing of the returns u/s.143(1)(a) cannot be considered as completion of assessment, the assessee has entitled to file the revised return within the prescribed time and before completion of the assessment. I .....

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have heard both the parties, perused the materials available on record and gone through the orders of the authorities below. The assessee has filed original return of income on 23.9.2011 by declaring total income of Rs. 3,32,45,620/-. The return filed by the assessee was processed u/s 143(1) of the Act on 10.2.2012. The assessee s case was selected for scrutiny and also a notice u/s 143(2) of the Act was issued on 27.9.2012. Subsequently, the assessee has filed a revised return on 28.3.2013 by d .....

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