https://www.taxtmi.com/caselaws?id=25988 The High Court affirmed the Tribunal's decision that the assessments made by the Income-tax Officer were not barred by limitation. It was determined that the valid returns were those filed with the required profit and loss account and balance-sheet. The Court held that incomplete returns, lacking necessary documents, were invalid, and the second set of returns, compliant with the prescribed form, was considered valid. The applicability of Section 139(4) and Section 139(5) was upheld, allowing for belated and revised returns. The Court ruled in favor of the tax authorities, concluding that the assessments were valid and within the limitation period. en-us Tue, 11 Sep 1984 00:00:00 +0530 Tue, 02 Feb 2010 11:27:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25988 The High Court affirmed the Tribunal's decision that the assessments made by the Income-tax Officer were not barred by limitation. It was determined that the valid returns were those filed with the required profit and loss account and balance-sheet. The Court held that incomplete returns, lacking necessary documents, were invalid, and the second set of returns, compliant with the prescribed form, was considered valid. The applicability of Section 139(4) and Section 139(5) was upheld, allowing for belated and revised returns. The Court ruled in favor of the tax authorities, concluding that the assessments were valid and within the limitation period. Case-Laws Income Tax Tue, 11 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25988