https://www.taxtmi.com/caselaws?id=69464 The reassessment proceedings were deemed valid by the Tribunal, following a jurisdictional High Court's judgment. Claims under sections 40A(7) and 80HHC were allowed for one assessment year but denied for another due to the timing of the revised return filing. The Tribunal upheld the jurisdiction to reopen assessments even when regular assessment proceedings were pending. It was clarified that a return filed pursuant to a notice under section 148 can be revised, but only for the benefit of the Revenue. The time limit to file a revised return under section 139(5) is not restricted by the issuance of a notice under section 148. en-us Fri, 22 Jun 2007 00:00:00 +0530 Wed, 20 Apr 2016 16:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69464 The reassessment proceedings were deemed valid by the Tribunal, following a jurisdictional High Court's judgment. Claims under sections 40A(7) and 80HHC were allowed for one assessment year but denied for another due to the timing of the revised return filing. The Tribunal upheld the jurisdiction to reopen assessments even when regular assessment proceedings were pending. It was clarified that a return filed pursuant to a notice under section 148 can be revised, but only for the benefit of the Revenue. The time limit to file a revised return under section 139(5) is not restricted by the issuance of a notice under section 148. Case-Laws Income Tax Fri, 22 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69464