https://www.taxtmi.com/caselaws?id=29574 The court ruled in favor of the assessee, finding that the assessment framed by the Income-tax Officer was barred by limitation as prescribed under section 153 of the Income-tax Act, 1961. The court held that the revised return filed by the assessee under section 139(4) did not extend the period for assessment, as only returns filed under sections 139(1) or 139(2) could be revised under section 139(5). Therefore, the assessment completed on January 23, 1975, was deemed invalid due to being beyond the period of limitation. The court awarded costs of Rs. 250 to the assessee. en-us Wed, 26 May 1982 00:00:00 +0530 Sat, 13 Mar 2010 17:43:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29574 The court ruled in favor of the assessee, finding that the assessment framed by the Income-tax Officer was barred by limitation as prescribed under section 153 of the Income-tax Act, 1961. The court held that the revised return filed by the assessee under section 139(4) did not extend the period for assessment, as only returns filed under sections 139(1) or 139(2) could be revised under section 139(5). Therefore, the assessment completed on January 23, 1975, was deemed invalid due to being beyond the period of limitation. The court awarded costs of Rs. 250 to the assessee. Case-Laws Income Tax Wed, 26 May 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29574