TMI Blog2002 (7) TMI 43X X X X Extracts X X X X X X X X Extracts X X X X ..... extended and if the assessee has filed the return on or before the extended time prayed for, the return shall be taken to be filed on or before the due date. In this case, when the application has been submitted for extension of time on June 28, 1985, and that has not been rejected, it shall be presumed that the time has been extended till September 30, 1985, and, in this case, admittedly, the ret ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... June 28, 1985, for filing the return which was due to be filed on June 30, 1985. In the application, the time sought was uptill September 30, 1985. In the return, the assessee has shown a loss of Rs. 25,82,740. The assessment was however completed computing total loss of Rs. 9,71,561. The business loss was only Rs. 8,095 while the depreciation to be carried forward was Rs. 9,55,371. The Income-ta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as not been rejected in the case in hand, the time prayed for extension till September 30, 1985, the assessee can fill the return till September 30, 1985, and that be treated that return of income has been filed on or before due date. Admittedly, the returns were filed on August 5, 1985, i.e., before September 30, 1985, and once the returns were filed before the period sought for extension of time ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in Form No. 6 for extension of time till September, 1985, and the returns showing loss has been filed on August 5, 1985, as before September 30, 1985. The consistent view taken by various High Courts that once the assessee has applied for extension of time on Form No. 6 and if at application has not been disposed of or rejected, the presumption will be that the time has been extended and if the as ..... X X X X Extracts X X X X X X X X Extracts X X X X
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