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“revised return”

Assessment ProceduresSection 139(5)Section 139(5)10,551 judgments

The decision most relied on for revised return is Goetze (India) Ltd. v. CIT (284 ITR 323), cited in 1,842 judgments on BharatTax.

Leading authorities on revised return

Goetze (India) Ltd. v. CIT
284 ITR 323 · 2006 · Supreme Court
1,842
citing judgments

An assessee cannot raise a new claim or a claim not made in the original or revised return of income for the first time directly before the Assessing Officer during assessment proceedings.

CIT v. Pruthvi Brokers & Shareholders
349 ITR 336 · 2012 · High Court
956
citing judgments

Appellate authorities can entertain fresh claims or revised computations of income made by an assessee, even if these were not submitted through a revised return of income.

CIT v. Jai Parabolic Springs Ltd.
306 ITR 42 · 2008 · High Court
349
citing judgments

An assessee can make an additional claim for deduction or file a revised computation of income during assessment proceedings, even if a revised return of income has not been filed. Such additional claims or grounds can also be admitted at the appellate stage.

CIT v. Infosys Technologies Ltd.
341 ITR 293 · 2012 · High Court
205
citing judgments

A Commissioner can revise an assessment order under Section 263 if it is erroneous and prejudicial to the interests of the revenue. This includes cases where the Assessing Officer fails to make further inquiries before accepting the assessee's statements in the return.

CIT v. Suresh Chandra Mittal
251 ITR 9 · 2001 · Supreme Court
179
citing judgments

A penalty under section 271(1)(c) for concealment or furnishing inaccurate particulars of income is not automatically leviable merely because a higher income is declared, even after a search or in a voluntarily revised return. The initial burden to prove concealment or inaccurate particulars lies with the Revenue.

Duggal & Co. v. CIT
220 ITR 456 · 1996 · High Court
84
citing judgments

An assessment order becomes erroneous and prejudicial to the revenue under Section 263 if the Assessing Officer fails to conduct a proper inquiry or investigation, even if the return appears prima facie correct. The Income-tax Officer has a duty to investigate and cannot remain passive.

Pr. CIT v. Ankit Metal & Power Ltd.
109 Taxmann.com 93 · 2019 · High Court
77
citing judgments

The Income Tax Appellate Tribunal (ITAT) has the power under Section 254 to entertain a claim for deduction not made in the original return of income or a revised return filed before the Assessing Officer.

35. In Virbhadra Singh (HUF) v. Pr. CIT
298 CTR 393 · 2017 · High Court
76
citing judgments

Where no inquiry was conducted by the Assessing Officer in passing an assessment order after accepting a revised return, the Commissioner acts within their power under section 263 to direct a fresh assessment.

Judgments citing revised return

Somchand P. Jhakaria, Thane vs. ACIT Cir 1, Kalyan

In the result, this appeal by the assessee stands allowed

ITA 5601/MUM/2016[2009-10]Status: DisposedITAT Mumbai04 Jan 2018AY 2009-10

Bench: Shri Shamim Yahya, Am & Shri Sandeep Gosain, Jm आयकर अपील सं./I.T.A. No. 5601/Mum/2016 ("नधा"रण वष" / Assessment Year: 2009-10) Shri Somchand P. Jhakaria Acit Circle 1, बनाम/ 501, Sitavihar Bldg., A-Wing, Kalyan Near Damani Estate, Agra Road, Vs. Thane (W) "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Afrpj 501 J (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Vimal Punmiya ""यथ" क" ओर से/Respondent By : Shri M. V. Rajguru सुनवाई क" तार"ख / : 02.11.2017 Date Of Hearing घोषणा क" तार"ख / : 04.01.2018 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: This Appeal By The Assessee Is Directed Against The Order Of The Ld. Commissioner Of Income Tax (Appeals)-2, Thane Dated 20.06.2016 & Pertains To The Assessment Year 2009-10. 2. The Grounds Of Appeal Read As Under: 1. On The Facts & Circumstances Of The Case & Law, The Ld. Cit(A) Erred In Confirming The Penalty Of Rs.2,29,695/- Initiated By The Ld. Assessing Officer U/S. 271(1)(C) Of The Income Tax Act, 1961. 3. Brief Facts Of The Case Are As Under:

For Appellant: Shri Vimal PunmiyaFor Respondent: Shri M. V. Rajguru
Section 143(1)Section 148Section 271(1)(c)

reopened and notice was issued u/s. 148 on 06.03.2013. In the assessment order, the assessment was done on the income shown in the revised return and no addition was made. However, the assessing officer initiated the penalty for not disclosing income in the original return. 5. In this factual background ... return of income much before the issue of reassessment notice. The reassessment was done on the amount already shown by the assessee in revised return. Hence, there is no case of concealment of income or furnishing of inaccurate particulars of income on the part of the assessee. The reliance placed

DCIT Cir. 3(3)(1), Mumbai vs. Reliance Capital Ltd., Navi Mumbai

ITA 2341/MUM/2016[2011-12]Status: DisposedITAT Mumbai03 Jan 2018AY 2011-12

Bench: S/Sh.Rajendra & Amarjit Singhआयकर अपील सं./I.T.A./2341/Mum/2016,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2011-12 िनधा"रण िनधा"रण वष" वष" Dcit-Circle-3(3)(1) M/S. Reliance Capital Ltd. Room No.609, 6Th Floor H-Block, 1St Floor, Dhirubhai Ambani Aayakar Bhavan, M.K. Road Vs. Knowledge City, Mumbai-400 020. Koperkhairane, Navi Mumbai-400 710. Pan:Aaacr 5054 J (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Shri Abhijit Patankar- Dr अपीलाथ" क" ओर से /Assessee By: Shri Jitendra B. Sanghvi-Ar सुनवाई क" तारीख / Date Of Hearing: 12/12/2017 घोषणा क" तारीख / Date Of Pronouncement: 03/01/2018 लेखा लेखा सद"य लेखा लेखा सद"य सद"य, राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार/ Per Rajendra, Am- अनुसार Challenging The Order Dated 25/01/2016Of Cit(A)-8, Mumbai The Assessing Officer (Ao) Has Filed The Present Appeal.Assessee-Company,Engaged In The Business Of Leasing,Investment In Shares/Stocks,Merchant & Investment Banking,Iled Its Return Of Income On 30/09/2011 Declaring Loss Of Rs.173.73 Crores Under Normal Provisions & Book Loss Of Rs.212.75 Crores.Later On,A Revised Return Was Filed,Declaring Loss Of Rs.159.60 Crores & Book Loss Of Rs.79.97 Crores.

For Appellant: Shri Jitendra B. Sanghvi-ARFor Respondent: Shri Abhijit Patankar- DR
Section 115JSection 14A

banking,iled its return of income on 30/09/2011 declaring loss of Rs.173.73 crores under normal provisions and book loss of Rs.212.75 crores.Later on,a revised return was filed,declaring loss of Rs.159.60 crores and book loss of Rs.79.97 crores. 2.First two Grounds of appeal are about section 14A r.w.r

Dania Oro Jewellery P.Ltd, Mumbai vs. ITO 9(3)(1), Mumbai

ITA 7635/MUM/2014[2010-11]Status: DisposedITAT Mumbai03 Jan 2018AY 2010-11

Bench: S/Sh. Rajendra & Ravish Soodआयकर अपील अपील संसंसंसं./I.T.A./7635/Mum/2014, िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2010-11 आयकर आयकर आयकर अपील अपील िनधा"रण िनधा"रण वष" वष" M/S.Dania Oro Jewellery Pvt. Ltd., The Income Tax Officer – 9(3)(1), Aayakar Bhavan, Gala No.601 & 602, Block No.I, M.K.Road, Seepz-Sez, Seepz Vs. Mumbai. Andheri (East),Mumbai – 400 096. Pan: Aaccd3214E (अपीलाथ" /Appellant) (""यथ" / Respondent) Revenue By: Shri V.Jenardhan, Dr Assessee By: Shri Arati Vissanji सुनवाई क" तारीख / Date Of Hearing: 11/10/2017 घोषणा क" तारीख / Date Of Pronouncement: 03/01/2018 आयकर आयकर अिधिनयम अिधिनयम,1961 क" क" धारा धारा 254(1)केकेकेके अ"तग"त अ"तग"त आदेश आदेश आयकर आयकर अिधिनयम अिधिनयम क" क" धारा धारा अ"तग"त अ"तग"त आदेश आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act)

For Appellant: Shri Arati VissanjiFor Respondent: Shri V.Jenardhan, DR
Section 143(3)Section 254(1)

return of income filed on 21.09.2010,after claiming deduction of Rs.80,85,924/-u/s.10AA of the Act,that later on a revised return of income was filed by the assessee,declaring total income of Rs.5,37,170/-,that it claimed that disallowances reported in the Tax Audit Report and some

Siddhesh Capital Market Services P.Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

Appeal of the AO is dismissed

ITA 2517/MUM/2015[2010-11]Status: DisposedITAT Mumbai01 Jan 2018AY 2010-11

Bench: S/Shri Rajendra, A.M. & Amarjit Singh, J.M. आयकर अपील सुं./Ita No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/S.Siddhesh Capital Market Services Dy. Commissioner Of Income Tax, P.Ltd,122, Maker Chamber Iii, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. Pan: Aaccs4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./Ita No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner Of Income Tax, M/S.Siddhesh Capital Market Services, Vs. Circle-3(3),Mumbai. Nariman Point, Mumbai – 400021 आयकर अपील सुं./Ita No.2517/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 M/S.Siddhesh Capital Market Services, Dy. Commissioner Of Income Tax, Vs. Nariman Point, Mumbai – 400021 Circle-3(3),Mumbai. Revenue By: Shri V. Justin-Dr Assessee By: Shri Vijay Mehta स नर्ाई की तारीख / Date Of Hearing: 03/10/2017 घोर्णा की तारीख / Date Of Pronouncement: 01/01/2018 आयकर अधधधनयम,1961 की धारा 254(1) के अन्द्तगवत आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सदस्य,राजेन्द्र के अन सार -Per Rajendra,Am: Challenging The Orders Dated 26.06.2012 & 12.01.2015 Of Cit(A)-7 & Cit-8,Respectively, The Assessee & The Assessing Officer(Ao)Have Filed Appeals For The Above-Mentioned Two Assessment Years.As The Issues Involved In Both The Appeals Are Common,So,We Are Adjudicat- Ing Them Together. Assessee-Company Is Engaged In The Business Of Finance,Trading, Investment & Derivative Transaction In Shares & Securities. The Details Of Filing Of Returns, Returned Incomes,Dates Of Assessments & Assessed Incomes Can Be Tabulated As Under: Ay. Roi Filed On Returned Income Asstt.Date Assessed Income 09-10 22.09.2009 (-) Rs.81,01,51,079/- 30.11.2011 (-) Rs.80,82,06,669/- 10-11 21.09.2010 Rs. 48,14,034/- 11.02.2013 Rs. 49,72,360/-

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Justin-DR
Section 10(34)Section 14ASection 254(1)Section 35Section 35D

return for the assessment year 1997-1998 declaring a total loss of Rs. 1,95,12,651/-. On 12.3.1998, the respondent filed a revised return declaring a total loss of Rs. 1,24,92,940/-. In the revised return, the assessee showed loss of Rs. 1,65,29,711/- arising ... assessment order dated 29.3.2000 under section 143(3) inter alia recorded as under: "The assessee's gross total income as per the second revised return was loss of Rs. 1,65,29,711/-. The composition of the same is as under : Business Profit (-) Rs. 1,72,31,711/- Income from

DCIT Cir 3(3)(1), Mumbai vs. Siddhesh Capital Market Services P.Ltd, Mumbai

Appeal of the AO is dismissed

ITA 2489/MUM/2015[2010-11]Status: DisposedITAT Mumbai01 Jan 2018AY 2010-11

Bench: S/Shri Rajendra, A.M. & Amarjit Singh, J.M. आयकर अपील सुं./Ita No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/S.Siddhesh Capital Market Services Dy. Commissioner Of Income Tax, P.Ltd,122, Maker Chamber Iii, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. Pan: Aaccs4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./Ita No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner Of Income Tax, M/S.Siddhesh Capital Market Services, Vs. Circle-3(3),Mumbai. Nariman Point, Mumbai – 400021 आयकर अपील सुं./Ita No.2517/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 M/S.Siddhesh Capital Market Services, Dy. Commissioner Of Income Tax, Vs. Nariman Point, Mumbai – 400021 Circle-3(3),Mumbai. Revenue By: Shri V. Justin-Dr Assessee By: Shri Vijay Mehta स नर्ाई की तारीख / Date Of Hearing: 03/10/2017 घोर्णा की तारीख / Date Of Pronouncement: 01/01/2018 आयकर अधधधनयम,1961 की धारा 254(1) के अन्द्तगवत आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सदस्य,राजेन्द्र के अन सार -Per Rajendra,Am: Challenging The Orders Dated 26.06.2012 & 12.01.2015 Of Cit(A)-7 & Cit-8,Respectively, The Assessee & The Assessing Officer(Ao)Have Filed Appeals For The Above-Mentioned Two Assessment Years.As The Issues Involved In Both The Appeals Are Common,So,We Are Adjudicat- Ing Them Together. Assessee-Company Is Engaged In The Business Of Finance,Trading, Investment & Derivative Transaction In Shares & Securities. The Details Of Filing Of Returns, Returned Incomes,Dates Of Assessments & Assessed Incomes Can Be Tabulated As Under: Ay. Roi Filed On Returned Income Asstt.Date Assessed Income 09-10 22.09.2009 (-) Rs.81,01,51,079/- 30.11.2011 (-) Rs.80,82,06,669/- 10-11 21.09.2010 Rs. 48,14,034/- 11.02.2013 Rs. 49,72,360/-

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Justin-DR
Section 10(34)Section 14ASection 254(1)Section 35Section 35D

return for the assessment year 1997-1998 declaring a total loss of Rs. 1,95,12,651/-. On 12.3.1998, the respondent filed a revised return declaring a total loss of Rs. 1,24,92,940/-. In the revised return, the assessee showed loss of Rs. 1,65,29,711/- arising ... assessment order dated 29.3.2000 under section 143(3) inter alia recorded as under: "The assessee's gross total income as per the second revised return was loss of Rs. 1,65,29,711/-. The composition of the same is as under : Business Profit (-) Rs. 1,72,31,711/- Income from

Siddhesh Capital Market Services P.Ltd, Mumbai vs. DCIT Cir 3(3), Mumbai

Appeal of the AO is dismissed

ITA 6532/MUM/2012[2009-10]Status: DisposedITAT Mumbai01 Jan 2018AY 2009-10

Bench: S/Shri Rajendra, A.M. & Amarjit Singh, J.M. आयकर अपील सुं./Ita No. 6532/Mum/2012,धनधावरण र्र्व /Assessment Year: 2009-10 M/S.Siddhesh Capital Market Services Dy. Commissioner Of Income Tax, P.Ltd,122, Maker Chamber Iii, Circle-3(3), Vs. Nariman Point, Mumbai – 400021 Mumbai. Pan: Aaccs4582N (अपीलाथी /Appellant) (प्रत्यथी / Respondent) आयकर अपील सुं./Ita No.2489/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 Dy. Commissioner Of Income Tax, M/S.Siddhesh Capital Market Services, Vs. Circle-3(3),Mumbai. Nariman Point, Mumbai – 400021 आयकर अपील सुं./Ita No.2517/Mum/2015 धनधावरण र्र्व /Assessment Year: 2010-11 M/S.Siddhesh Capital Market Services, Dy. Commissioner Of Income Tax, Vs. Nariman Point, Mumbai – 400021 Circle-3(3),Mumbai. Revenue By: Shri V. Justin-Dr Assessee By: Shri Vijay Mehta स नर्ाई की तारीख / Date Of Hearing: 03/10/2017 घोर्णा की तारीख / Date Of Pronouncement: 01/01/2018 आयकर अधधधनयम,1961 की धारा 254(1) के अन्द्तगवत आदेश Order U/S.254(1)Of The Income-Tax Act,1961(Act) लेखा सदस्य,राजेन्द्र के अन सार -Per Rajendra,Am: Challenging The Orders Dated 26.06.2012 & 12.01.2015 Of Cit(A)-7 & Cit-8,Respectively, The Assessee & The Assessing Officer(Ao)Have Filed Appeals For The Above-Mentioned Two Assessment Years.As The Issues Involved In Both The Appeals Are Common,So,We Are Adjudicat- Ing Them Together. Assessee-Company Is Engaged In The Business Of Finance,Trading, Investment & Derivative Transaction In Shares & Securities. The Details Of Filing Of Returns, Returned Incomes,Dates Of Assessments & Assessed Incomes Can Be Tabulated As Under: Ay. Roi Filed On Returned Income Asstt.Date Assessed Income 09-10 22.09.2009 (-) Rs.81,01,51,079/- 30.11.2011 (-) Rs.80,82,06,669/- 10-11 21.09.2010 Rs. 48,14,034/- 11.02.2013 Rs. 49,72,360/-

For Appellant: Shri Vijay MehtaFor Respondent: Shri V. Justin-DR
Section 10(34)Section 14ASection 254(1)Section 35Section 35D

return for the assessment year 1997-1998 declaring a total loss of Rs. 1,95,12,651/-. On 12.3.1998, the respondent filed a revised return declaring a total loss of Rs. 1,24,92,940/-. In the revised return, the assessee showed loss of Rs. 1,65,29,711/- arising ... assessment order dated 29.3.2000 under section 143(3) inter alia recorded as under: "The assessee's gross total income as per the second revised return was loss of Rs. 1,65,29,711/-. The composition of the same is as under : Business Profit (-) Rs. 1,72,31,711/- Income from