https://www.taxtmi.com/caselaws?id=753244 A valid revised return under the Income-tax Act substitutes the original return for all purposes, so the Assessing Authority cannot rely on the earlier return once the revised return is filed. Where the assessee opts for the new tax regime under section 115BAC, the statutory consequence is that standard deduction under section 16 and deductions under Chapter VI-A, including section 80C, are not available. Processing the return under section 143(1) on that basis was held to be in accordance with law, and the challenge to the denial of those deductions failed. en-us Mon, 27 May 2024 00:00:00 +0530 Wed, 29 May 2024 08:32:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753244 A valid revised return under the Income-tax Act substitutes the original return for all purposes, so the Assessing Authority cannot rely on the earlier return once the revised return is filed. Where the assessee opts for the new tax regime under section 115BAC, the statutory consequence is that standard deduction under section 16 and deductions under Chapter VI-A, including section 80C, are not available. Processing the return under section 143(1) on that basis was held to be in accordance with law, and the challenge to the denial of those deductions failed. Case-Laws Income Tax Mon, 27 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753244