Requirement of filing declaration under section 184(7), as amended by Taxation Laws (Amendment) Act, 1970, within time allowed under section 139(1)/(2) for furnishing return of income - ITOs to be liberal in condoning delay for assessment year 1970-71 and earlier years where, even after 1-4-1971, de

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....nt of filing declaration under section 184(7), as amended by Taxation Laws (Amendment) Act, 1970, within time allowed under section 139(1)/(2) for furnishing return of income - ITOs to be liberal in condoning delay for assessment year 1970-71 and earlier years where, even after 1-4-1971, declaration had been filed along with return 1. Prior to the amendment of section 184(7) by the Taxation Laws ....

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....thereof is considered on or after April 1, 1971. If, therefore, an assessee-firm files returns of income for 1970-71 or earlier years within the time limit under section 139(4)(a) and also files Form No. 12 for continuation of registration after April 1, 1971, the firm would not be eligible for the benefits or registration because the form would not have been filed within the time allowed under se....