FLOTECH WELDING AND CUTTING SYSTEMS LIMITED Vs. CHANDERSINGH

JUDGEMENT

(1.) THE short question raised in this petition is, whether the authorities under the Income-tax Act were Justified in treating the revised return for the assessment year 1991-1992 and the original return for the year 1992-1993 as invalid under Section 139 (9) of the Income Tax Act.

(2.) ALTHOUGH, the Writ Petition pertains to the assessment year 1991-92 and 1992-93, mr. Pardiwala, learned Counsel appearing on behalf of the petitioner fairly stated that after treating the revised return for assessment year 1991-92 as invalid, the Assessing Officer has passed assessment order under Section 143 (3) of the Income tax Act ('i. T. Act for short) and the appeal filed against the said assessment order is pending. He submitted that the petitioner is willing to persue the appellate remedy for AY 1991-92, however, it may be clarified that the petitioner is entitled to raise ail contentions before the appellate authority. In the present case, the Tribunal has held that even though the return is held to be invalid the assessee is not debarred from furnishing any evidence in support of any claim though not made in the original return. The said finding of the Tribunal has not been disputed by either side. Therefore, for the assessment year 1991-92 the assessee is permitted to persue the appellate remedy and it is clarified that as held by the Tribunal the assessee would entitled to furnish any evidence in support of any claim though not made by it in the original return. Thus, the controversy in the present petition is restricted only to the action taken under Section 139 (9) of the i. T, Act for the assessment year 1992-93.

(3.) THE facts, relevant for assessment year 1992-93, are as follows :