https://www.taxtmi.com/highlights?id=74851 Processing of invalid return u/s 143(1) - Denial of exemption u/s 10(23C)(iiiad) - non-filing of ITR-V within 120 days made the assessee’s return as ‘invalid’ being deemed to have been never filed which was picked for processing - Assessee filed 2nd belated return u/s 139(4) - The ITAT held that, since the initial return was invalid, the intimation issued by the CPC based on it was also invalid. The CPC should have considered the second valid return available in the departmental database at the time of processing under section 143(1). en-us Mon, 12 Feb 2024 10:59:47 +0530 Mon, 12 Feb 2024 10:59:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=74851 Processing of invalid return u/s 143(1) - Denial of exemption u/s 10(23C)(iiiad) - non-filing of ITR-V within 120 days made the assessee’s return as ‘invalid’ being deemed to have been never filed which was picked for processing - Assessee filed 2nd belated return u/s 139(4) - The ITAT held that, since the initial return was invalid, the intimation issued by the CPC based on it was also invalid. The CPC should have considered the second valid return available in the departmental database at the time of processing under section 143(1). Highlights Income Tax Mon, 12 Feb 2024 10:59:47 +0530 https://www.taxtmi.com/highlights?id=74851