Revised return under income tax law must be considered after condonation of delay, with fresh reconsideration directed.

A challenge to an order under Section 264 of the Income-tax Act, 1961 concerned whether the Commissioner had wrongly proceeded on the original return instead of the revised return. The petitioner contended that the revised return should be considered, while the respondents stated that condonation of delay in filing the revised return had to be sought first. The impugned order was set aside, and the petitioner was directed to file an application for condonation of delay; thereafter, the Commissioner must reconsider the matter afresh in accordance with law.

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Issues: Whether the order passed under Section 264 of the Income-tax Act, 1961 required interference and whether the matter should be reconsidered on the basis of the revised return after an application for condonation of delay.

Analysis: The impugned order was challenged on the ground that the Commissioner had examined the matter with reference to the original return instead of the revised return. The respondents indicated that the petitioner should first seek condonation of delay in filing the revised return and that, upon such application, the matter could be reconsidered in accordance with law.

Conclusion: The impugned order was set aside and the petitioner was directed to file an application for condonation of delay in filing the revised return, whereupon the Commissioner is to consider the matter afresh in accordance with law.

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