1989 (1) TMI 170

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....New Delhi, u/s 263, for the asst. year 1982-83. 2. The assessee is M/s Norma Cables (P.) Ltd., 2/65, Roop Nagar,Delhi, a private limited company, which carried on the manufacture, processing and fabrication design of all kinds of electrical wires, cables etc. It is not disputed before us that the return of income filed by the assessee on4-3-1985was not signed or verified by anybody. However, si....

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....ncome furnished, shall be invalid or shall be deemed to be invalid merely by reason of any mistake, defect or omission in such return or income if it is in substance and effect in conformity with or according to the intent and purpose of this Act. Section 139(9) provides that where the assessing officer considers that the return of income is defective, he may intimate the defect to the assessee an....

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....eturn was defective. The ITO, therefore, failed to exercise his jurisdiction u/s 139(9). This could not be cured u/s 292B because such a return could not be said to be in substance and effect in conformity with or according to the intent or the purpose of the Act. Therefore, there is no manner of doubt that the order of assessment was erroneous insofar as it was prejudicial to the interests of rev....