https://www.taxtmi.com/caselaws?id=427643 The Income Tax Appellate Tribunal (ITAT) dismissed the appellant's appeal, upholding the assessment based on the original return filed belatedly under section 139(4) for the assessment year 2012-13. The ITAT held that the right to file a revised return under section 139(5) was not available to the appellant who initially filed the return under section 139(4). The ITAT considered the revised return as non-est in the eyes of the law and rejected the appellant's claim regarding capital loss, affirming the assessment based on actual income earned by the appellant. en-us Fri, 09 Sep 2022 00:00:00 +0530 Wed, 14 Sep 2022 09:22:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427643 The Income Tax Appellate Tribunal (ITAT) dismissed the appellant's appeal, upholding the assessment based on the original return filed belatedly under section 139(4) for the assessment year 2012-13. The ITAT held that the right to file a revised return under section 139(5) was not available to the appellant who initially filed the return under section 139(4). The ITAT considered the revised return as non-est in the eyes of the law and rejected the appellant's claim regarding capital loss, affirming the assessment based on actual income earned by the appellant. Case-Laws Income Tax Fri, 09 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427643