https://www.taxtmi.com/caselaws?id=234489 The court decided in favor of the Revenue regarding the allowance of expenditure despite a revised return filed after the time limit set by Section 139(5) of the Income Tax Act, based on a previous Supreme Court ruling. Concerning the admissibility of carrying forward losses and recalculating deductions under Section 80HHC(1A), the court kept the issue open for future consideration due to the minimal tax effect involved, ultimately maintaining the Tribunal's decision in favor of the assessee. The court modified the Tribunal's order as discussed in the judgment, with each party bearing their own costs. en-us Thu, 23 May 2013 00:00:00 +0530 Fri, 07 Jun 2013 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=234489 The court decided in favor of the Revenue regarding the allowance of expenditure despite a revised return filed after the time limit set by Section 139(5) of the Income Tax Act, based on a previous Supreme Court ruling. Concerning the admissibility of carrying forward losses and recalculating deductions under Section 80HHC(1A), the court kept the issue open for future consideration due to the minimal tax effect involved, ultimately maintaining the Tribunal's decision in favor of the assessee. The court modified the Tribunal's order as discussed in the judgment, with each party bearing their own costs. Case-Laws Income Tax Thu, 23 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=234489