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Chapter No. 07 - REVISED RETURN [Sec. 139(5)]
Can Revised Return Substitute Original Return?
There is a distinction between a revised return and a correction of the return. If the assessee files some application for correcting a return already filed or making amendments therein, it would not mean that he has filed a revised return. It will still retain the character of an original return; but once a revised return is filed, the original return must be taken to have been withdrawn and to have been substituted by a fresh return for the purpose of assessment-Dhampur Sugar Mills Ltd. v. CIT1972 (3) TMI 16 - Allahabad High Court.
Revised return substitutes the original return, while mere corrections leave the original filing intact for assessment. A validly filed revised return withdraws and substitutes the original return for assessment purposes; corrections or amendments made to a filed return without filing a revised return do not change the filing's character and therefore do not effect such substitution. of Press 'Enter' after typing page number.
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