https://www.taxtmi.com/caselaws?id=379830 The court held that the scheme of amalgamation approved by the National Company Law Tribunal (NCLT) is binding on income tax authorities, allowing for the filing of revised returns beyond the stipulated period without incurring penalties. The court determined that Circular No. 9 of 2015 does not override the NCLT-approved scheme, emphasizing the statutory force of court-sanctioned schemes over administrative circulars. Additionally, the court found that the mandatory electronic filing requirement under Rule 12(3) of the Income Tax Rules should not hinder the filing of revised returns in exceptional cases like this, directing the income tax authorities to accept and process the revised returns within twelve weeks. en-us Tue, 30 Apr 2019 00:00:00 +0530 Wed, 06 Nov 2019 16:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=379830 The court held that the scheme of amalgamation approved by the National Company Law Tribunal (NCLT) is binding on income tax authorities, allowing for the filing of revised returns beyond the stipulated period without incurring penalties. The court determined that Circular No. 9 of 2015 does not override the NCLT-approved scheme, emphasizing the statutory force of court-sanctioned schemes over administrative circulars. Additionally, the court found that the mandatory electronic filing requirement under Rule 12(3) of the Income Tax Rules should not hinder the filing of revised returns in exceptional cases like this, directing the income tax authorities to accept and process the revised returns within twelve weeks. Case-Laws Income Tax Tue, 30 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=379830