https://www.taxtmi.com/caselaws?id=18217 The High Court ruled against the Revenue in a case involving the interpretation of section 139(10) of the Income-tax Act, 1961. The Court clarified that section 139(10) applies regardless of whether the return shows income or losses, emphasizing that losses can also trigger the provision. Additionally, the Court held that an Assessing Officer cannot initiate assessment proceedings based on a return filed after the due date, deeming such a return as never furnished. Consequently, the Court favored the assessee, highlighting the importance of adhering to the Act's provisions concerning return filings and assessment proceedings. en-us Wed, 26 Jun 1996 00:00:00 +0530 Tue, 29 Sep 2009 15:26:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18217 The High Court ruled against the Revenue in a case involving the interpretation of section 139(10) of the Income-tax Act, 1961. The Court clarified that section 139(10) applies regardless of whether the return shows income or losses, emphasizing that losses can also trigger the provision. Additionally, the Court held that an Assessing Officer cannot initiate assessment proceedings based on a return filed after the due date, deeming such a return as never furnished. Consequently, the Court favored the assessee, highlighting the importance of adhering to the Act's provisions concerning return filings and assessment proceedings. Case-Laws Income Tax Wed, 26 Jun 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18217