https://www.taxtmi.com/caselaws?id=441480 Where a sanctioned demerger or scheme of arrangement delays filing, revised income tax and indirect tax returns filed manually must be accepted and processed to give effect to the scheme; the court applied the Supreme Court precedent in Dalmia Power to reject reliance on a CBDT circular that barred late revised returns and directed acceptance of manual revised returns for the relevant assessment years with assessment orders to be completed within 12 weeks. The operative effect is mandatory processing of revised returns and assessment adjustments in conformity with the NCLT sanctioned scheme. en-us Mon, 31 Jul 2023 00:00:00 +0530 Wed, 11 Feb 2026 12:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441480 Where a sanctioned demerger or scheme of arrangement delays filing, revised income tax and indirect tax returns filed manually must be accepted and processed to give effect to the scheme; the court applied the Supreme Court precedent in Dalmia Power to reject reliance on a CBDT circular that barred late revised returns and directed acceptance of manual revised returns for the relevant assessment years with assessment orders to be completed within 12 weeks. The operative effect is mandatory processing of revised returns and assessment adjustments in conformity with the NCLT sanctioned scheme. Case-Laws Income Tax Mon, 31 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441480