Revised Returns Validity u/s 139(5) Challenged; AO and CIT(A) Criticized for Taxing Hypothetical Income Ignoring Revisions.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Validity of revised returns u/s 139(5) - condition no. (ii) of sec. 139(5) - AO and CIT(A) was not justified in bringing to tax such hypothetical income in the hands of the assessee company on the basis of original return of income ignoring the revised return filed by the assesse - AT....