https://www.taxtmi.com/caselaws?id=351844 The Tribunal upheld the decision of the Ld. CIT (A) and dismissed the Revenue's appeal regarding the interpretation of Explanation 2(b) of section 11(1) of the Income Tax Act. It was emphasized that fulfilling legal requirements before the completion of assessment proceedings and timely filing of returns were crucial in determining the validity of the option exercised by the assessee under section 11(1) Explanation 2. The Tribunal concluded that the return filed within the specified period under section 139(4) satisfied the requirements of the Act. en-us Wed, 22 Nov 2017 00:00:00 +0530 Sat, 02 Dec 2017 10:10:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=351844 The Tribunal upheld the decision of the Ld. CIT (A) and dismissed the Revenue's appeal regarding the interpretation of Explanation 2(b) of section 11(1) of the Income Tax Act. It was emphasized that fulfilling legal requirements before the completion of assessment proceedings and timely filing of returns were crucial in determining the validity of the option exercised by the assessee under section 11(1) Explanation 2. The Tribunal concluded that the return filed within the specified period under section 139(4) satisfied the requirements of the Act. Case-Laws Income Tax Wed, 22 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=351844