https://www.taxtmi.com/caselaws?id=391863 HC held that where a search led to abatement of a pending scrutiny assessment under the second proviso to s.153A, the original return loses its finality and the return filed under s.153A(1) stands in the place of a return under s.139(1). Consequently the assessee may advance claims (including new claims not made in the original return) and the AO may consider disallowances afresh. Applying this principle, the Court allowed the assessee's claim to treat the pre-payment gain as capital receipt and decided against the revenue. en-us Wed, 05 Feb 2020 00:00:00 +0530 Mon, 01 Sep 2025 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391863 HC held that where a search led to abatement of a pending scrutiny assessment under the second proviso to s.153A, the original return loses its finality and the return filed under s.153A(1) stands in the place of a return under s.139(1). Consequently the assessee may advance claims (including new claims not made in the original return) and the AO may consider disallowances afresh. Applying this principle, the Court allowed the assessee's claim to treat the pre-payment gain as capital receipt and decided against the revenue. Case-Laws Income Tax Wed, 05 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391863