TaxTMI 
TaxTMI 
2017 (11) TMI 2073
X X X X Extracts X X X X
X X X X Extracts X X X X
....ch assessee belongs. Thereafter, notice u/s 153A for the impunged assessment year 2011-12 was issued on 17.12.2014 requiring the assessee to file her return of income within 20 days from the service of the notice and in compliance to the said notice, the assessee filed her return of income on 10.04.2015 declaring total income of Rs. 86,23,850/-. 3. During the course of assessment proceedings, it was observed by the AO that the assessee has declared her income u/s 153A at Rs. 86,23,850/- whereas in her original return of income, she had declared total income of Rs. 30,64,640/-. The assessee was accordingly asked to furnish the details of the income declared u/s 153A. 4. In response, the assessee submitted that while filing the return of income u/s 153A, income was by mistake declared at Rs. 86,23,850/- as against the income of Rs. 30,64,640/- which was also declared in her original return of income and the return so filed u/s 153A has been revised on 14.12.2016 declaring income of Rs. 30,64,640/-. The submission of the assessee filed before AO is reproduced as under:- "That the assessee had filed her return of income u/s 139(1) on 30.07.2011 for Rs. 30,64,640/- for th....
X X X X Extracts X X X X
X X X X Extracts X X X X
....of these facts, income declared u/s 153A at Rs. 86,23,850/- is treated as total income of the assessee for the year under consideration." 6. Being aggrieved, the assessee carried the matter in appeal before the ld. CIT(A) who has given the relief of Rs. 55,59,210 and accepted the revised return filed pursuant to issuance of notice u/s 153A. Now the revenue is in appeal against the finding of the ld. CIT(A) in accepting the revised return filed by the assessee on 14.12.2016 instead of return filed in response to notice u/s 153A of the Act on 10.04.2015. 7. On perusal of the order passed by the ld CIT(A), we find that the ld CIT(A) noted the rival contentions of both the parties and which have been reiterated and advanced before us as well. While the AO contends that income tax return filed u/s 153A cannot be revised as there is no provisions in the Act for filing a revised return filed pursuant to notice u/s 153A. Per contra, the ld. Counsel for the assessee contended that such return can be revised in view of the affirmative statement in section 153A(1)(A) that all the provisions of the Act would apply to the return as if such return were a return filed under section 139 and ....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... for the AY 2011-12. 10. The ld. CIT(A) further held that to further substantiate her claim, assessee has also filed an affidavit stating the fact that correct income for the year should be taken at Rs. 30,64,640/-. Apart from this, it is also pertinent to note that assessee during the search operation carried out had not made any disclosure of income nor any incriminating material suggesting additional undisclosed income of Rs. 55,59,210/- (Rs. 86,23,850 - Rs. 30,64,640) was found from her possession. 11. The ld. CIT(A) finally held that "in view of facts and circumstances of the case and most respectfully following the decision of Hon'ble ITAT Mumbai (Supra), the return filed pursuant to notice issued u/s 153A of the Act can be revised, provided mistakes are apparent from the record, accordingly, in this case, it is seen that information/details given in the return filed on 10.04.2015 is irrelevant & no use to the AO for the AY 2011-12. Hence, AO is hereby directed to take the figures of return filed on 14.12.2016 at a total income of Rs. 30,64,640/-. Assessee's appeal stands allowed in Gr No. 1. Assessee gets a relief of Rs. 55,59,210/-." 12. In light of above backgroun....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he provisions itself provide that the assessments under this section shall be made by the AO of such person by issuing the notice and on that basis, the AO will assess or reassess the total income of such person or such assessment years in the manner provided in section 153A. Thus, the assessment and reassessment has to be made in the manner provided in section 153A. Section 153A provides that the AO shall issue the notice requiring to furnish return of income within a period as specified in the notice. The assessee was under the obligation to file the return of income in respect of each assessment year falling within six assessment years in a prescribed form and verified in a prescribed manner along with other particulars as may be prescribed and the provisions of Income-tax Act shall, as far as may be, apply, accordingly as if such return was a return required to be furnished u/s 139. In view of these, we are not in agreement with the pleadings of the learned AR that the provisions of section 271F cannot be applied where the return is required to be furnished u/s 153C read with section 153A of the Income-tax Act. Although there is no minimum time required to be give in the notice....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ducted. By way of a proviso to section 158BC(a), it was specifically provided that a person who has furnished a return under this clause shall not be entitled to file a revised return of income. The said provisions have since been superseded by the provisions of section 153A of the Act. Unlike the ershwhile provisions of section 158BC which provides a clear embargo on filing the revised return, current provisions in section 153A donot contain any specific restriction. Rather, it is seen that current provisions have been drafted in a way so as to align with the provisions contained in section 139 provided there are not inconsistent with the provisions of section 153A of the Act. Therefore, in absence of a specific restriction under section 153A, it would be wrong to hold that the assessee would be barred from filing a revised return assuming she satisfies the conditions for filing such revised return. 16. In light of above discussions, we are of the view that there is no restriction for filing a revised return pursuant to filing of return in response to notice under section 153A of the Act and the provisions of section 139(5) are equally applicable in case of return filed pursuan....
X X X X Extracts X X X X
X X X X Extracts X X X X
.... form as prescribed in Rule-12 of the Income-Tax Rules 1962. It should be duly verified and signed in accordance with the provisions of section 140 of the said Act and delivered at my office at Room No. N.A. 102 New Central Revenue Building, Statue Circle, Jaipur within twenty Days (20 days) from service of this notice." In the assessment order, the AO at para 5 has stated clearly that the notice under section 153A was issued on 17.12.2014 and duly served on the assessee. The issuance and service of notice is thus not in dispute. Subsequently, the assessee has filed her return of income pursuant to such notice u/s 153A on 10.04.2015. The question is whether such return has been filed within the stipulated timeframe as prescribed in notice u/s 153A of the Act. Apparently, the AO seems satisfied and has not disputed this fact and has also not initiated any penal action under section 271F for delay in filing of the return of income. 19. The second condition required to be satisfied for filing a revised return is that the assessee discovers any omission or wrong statement in the return originally so filed by him, in that scenario, he can revise the return originally filed. In the....