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of <h1>Challenge dismissed; assessee allowed to file revised returns under CBDT circular for Section 10(38) after natural justice breach</h1> <h3>THE PR. COMMISSIONER OF INCOME TAX-1, ORISSA Versus KISHORE KUMAR MOHAPATRA</h3> SC dismissed the SLP, upholding HC and ITAT findings that the assessee could file revised returns under the CBDT circular to claim Section 10(38) benefits ... Benefit of Section 10(38) - Assessee to file revised returns if he omitted to make a claim - denial of an opportunity to cross examine the entry providers - as decided by HC ITAT was justified in accepting the plea of the Assessee that the failure to adhere the principles of natural justice went to the root of the matter. Also, the CBDT circular that permitted to the Assessee to file revised returns if he omitted to make a claim was also not noticed by the AO, thus correctly dismissing the Revenue’s appeal HELD THAT:- No case for interference is made out in exercise of our jurisdiction under Article 136 of the Constitution of India. The Special Leave Petition is, accordingly, dismissed. The Supreme Court dismissed the Special Leave Petition under Article 136 of the Constitution of India as no case for interference was found. The pending application was also disposed of.
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