TaxTMI 
TaxTMI 
2026 (1) TMI 692
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....tes to the assessment year 2024-2025 wherein the petitioner, who is the assessee, has assailed the assessment order dated 15.10.2025 passed after his case was selected for scrutiny under the Computer-Assisted Scrutiny Selection (CASS) as per the notice under Section 143(2) of the Income Tax Act, 1961 (hereinafter referred to as, "the Act"). In response to the notice dated 14.08.2025 issued under Section 142(1) of the Act, the petitioner requested to file the updated Income Tax Return (ITR) under Section 139(8A) of the Act, which was rejected and the Assessing Officer, however, proceeded with the assessment under Section 143(3) read with Section 144B of the Act and disallowed exemptions under Section 10 of the Act and the deduction claimed i....
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....d, within the prescribed time by 31st December, 2025. 5. Learned counsel for the petitioner prays that the petitioner may also be allowed to file the updated return in view of the Press Release issued by the Department of Revenue, Central Board of Direct Taxes, dated 23.12.2025. The assessment order was passed on 15.10.2025. It is submitted that the petitioner is a salaried employee and had disclosed other income which were not related to his employment in Form-16. The proceedings for assessment were issued on account of alleged exemption and deduction claimed inadvertently by the petitioner. Under Section 139(8A) of the Act, the assessee can file the updated return of his income within forty-eight months from the end of the relevant ass....
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....unsel for the parties and taken note of the relevant material placed on record. We have also perused the impugned assessment order and the relevant provisions of the Act as amended and applicable to the case of the petitioner. We have also perused the Press Release. 8. The case of the present petitioner was taken up for scrutiny vide notice under Section 143(2) of the Act on account of large deductions claimed under Section 80G of the old tax regime. Under the unamended Section 139(8A) of the Act, any person, whether or not he has furnished a return under sub-section (1) or sub-section (4) or sub-section (5), for an assessment year may furnish an updated return of his income or the income of any other person in respect of which he is ass....
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....(c) results in refund or increases the refund due on the basis of return furnished under sub-section (1) or sub-section (4) or sub-section (5), of such person under this Act for the relevant assessment year: Provided further that a person shall not be eligible to furnish an updated return under this sub-section, where- (a) a search has been initiated under section 132 or books of account or other documents or any assets are requisitioned under section 132A in the case of such person; or (b) a survey has been conducted under section 133A, other than sub-section (2A) of that section, in the case of such person; or (c) a notice has been issued to the effect that any money, bullion, jewellery or valu....
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....5 (22 of 2015) and the same has been communicated to him, prior to the date of furnishing of return under this sub-section; or (d) information for the relevant assessment year has been received under an agreement referred to in section 90 or section 90A in respect of such person and the same has been communicated to him, prior to the date of furnishing of return under this sub-section; or (e) any prosecution proceedings under the Chapter XXII have been initiated for the relevant assessment year in respect of such person, prior to the date of furnishing of return under this sub-section; or (f) he is such person or belongs to such class of persons, as may be notified by the Board in this regard:" 9. A bare readin....