https://www.taxtmi.com/caselaws?id=26481 The High Court ruled in favor of the Revenue, declaring that the declaration filed prematurely before the end of the accounting year was invalid. However, the Court held in favor of the assessee, stating that the Income-tax Officer should have allowed an opportunity for rectification of the defect in the declaration under section 185(3) of the Income-tax Act, 1961. The judgment emphasized the procedural aspect of the declaration requirement and stressed the significance of offering a chance for rectification to uphold fairness in the assessment process. en-us Wed, 05 Mar 1986 00:00:00 +0530 Fri, 05 Feb 2010 12:55:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26481 The High Court ruled in favor of the Revenue, declaring that the declaration filed prematurely before the end of the accounting year was invalid. However, the Court held in favor of the assessee, stating that the Income-tax Officer should have allowed an opportunity for rectification of the defect in the declaration under section 185(3) of the Income-tax Act, 1961. The judgment emphasized the procedural aspect of the declaration requirement and stressed the significance of offering a chance for rectification to uphold fairness in the assessment process. Case-Laws Income Tax Wed, 05 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26481