2019 (1) TMI 1484

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....ollowing background. 2. The petitioner is a company registered under the Companies Act. For the assessment year 201617, the petitioner filed its return of income on 17th October, 2016 declaring total income of Rs. 22.15 crores (rounded off). On 28th August, 2017 the Assessing Officer issued a notice under Section 139(9) of the Act to the petitioner requesting the petitioner-company to rectify certain defects in filing of the return. The notice granted statutory period of 15 days to take such steps. On 12th September, 2017 i.e. within the time permitted the petitioner removed the defects. According to the petitioner, the defects were technical in nature and did not result into any change in petitioner's total income. In other words....

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....e was 30th September, 2017. The department however contends that the relevant date of filing of the return would be the date on which the petitioner in response to the defects pointed out by the department filed revised return curing the defects in the original return. Thus considered, the department would point out that the notice issued by the Assessing Officer on 10th August, 2018 was valid. 6. It is undisputed between the parties that if the date of the filing of the return by the petitioner is considered to be 17th October, 2016 i.e. the date on which the original return was filed, the impugned notice of scrutiny assessment is barred by limitation. It is equally undisputed that if the date of filing of the return is reckoned as 12th....

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....idiary of Great Eastern Shipping Company Ltd. The petitioner ceased to be fully owned subsidiary only after March, 1992. The defect in signature was removed on 15-10-1992 but in respect of the same assessment year 1991-92. In our opinion, the subsequent event cannot result in holding that the return as originally filed was not in substance and effect in conformity with or according to the intent or purpose of the Act on the date the return was filed. The test to be applied is whether on the date the original return was filed was the return in conformity with or according to the purpose of the Act. On the date the return was filed the petitioner was admittedly a wholly owned subsidiary of Great Eastern Shipping. It is true that the return....