TaxTMI 
TaxTMI 
2016 (10) TMI 358
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....ayed for a direction to the respondent to accept the revised return for the assessment year 2011-12. 2. Brief facts are as under: The petitioner is an individual. For the assessment year 2011- 12, the petitioner had filed a late return declaring total income of Rs. 4,39,410/-. According to the petitioner, in such return, he had mistakenly offered income from sale of agricultural land to capital ....
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....The petitioner had shown sufficient reasons for filing late return; (2) In the original return, sale of agricultural land was shown as capital gain which was not taxable; (3) The petitioner, therefore, had to file revised return which ought to have been accepted. 5. Counsel submitted that now relevant portion of Section139 of the Act has been amended so that it is open to the assesee to revis....
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....ufficiently strong reasons are shown. It would not be possible to find fault with the Revenue authorities in exercising powers under Section 119 of the Act. Routine, liberal and overindulgent approach in condoning delay would open floodgates of applications, completely throwing the tax assessment and recovery machinery out of gear. We may recall, the grounds raised by the petitioner for delay of n....