Assessing officer cannot consider claims from revised returns filed beyond Section 139(5) statutory limitation period

SC held that assessing officer lacks jurisdiction to consider claims made in revised returns filed beyond the statutory limitation period under Section 139(5) of IT Act. The Tribunal erred in directing the assessing officer to consider appellant's claim from a time-barred revised return dated 29th October 1991. Court distinguished Wipro Finance Ltd case, noting it concerned Tribunal's appellate powers under Section 254, not assessing officer's jurisdiction over time-barred claims. Following Goetzge (India) Ltd precedent, assessing officer cannot entertain claims outside statutory provisions. HC's order setting aside Tribunal's direction was upheld.

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Issues:
1. Validity of filing a revised return after the time prescribed by law.
2. Jurisdiction of the assessing officer to consider claims made in a revised return filed after the limitation period.

Analysis:

Issue 1: Validity of filing a revised return after the time prescribed by law
The appellant-assessee filed a return of income for the assessment year 1989-90 and subsequently filed a revised return. The Commissioner of Income Tax (Appeals) dismissed the appeal stating that the revised return filed later was barred by limitation under Section 139(5) of the Income Tax Act. The Tribunal partly allowed the appeal by remanding the case back to the assessing officer. The High Court set aside the Tribunal's order, emphasizing that after the revised return was barred by time, there was no provision to consider the claim made by the appellant. The Supreme Court analyzed the relevant provisions of the IT Act and previous judgments to conclude that filing a revised return after the limitation period specified in Section 139(5) is not permissible.

Issue 2: Jurisdiction of the assessing officer to consider claims made in a revised return filed after the limitation period
The appellant argued that the assessing officer could still consider the claim made regarding deduction of deferred revenue expenditure during the assessment proceedings, even if it was omitted in the original return. However, the respondent Department contended that after the revised return was barred by limitation, the assessing officer had no jurisdiction to entertain such claims. The Supreme Court referred to the provisions of the IT Act and previous judgments to establish that the assessing officer cannot entertain any claim made by the assessee outside the prescribed procedures. The Court highlighted that the Tribunal did not exercise its powers under Section 254 of the IT Act to consider the claim, and the assessing officer lacked jurisdiction to entertain claims made in a revised return filed after the limitation period.

In conclusion, the Supreme Court dismissed the appeal, upholding the High Court's decision that the assessing officer had no jurisdiction to consider the appellant's claim in the revised return filed after the prescribed time limit. The judgment reaffirmed the importance of adhering to statutory timelines and procedures outlined in the Income Tax Act for filing revised returns and making claims during assessment proceedings.

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