Dismissing the appeal the Court held that ; When assessee took advantage of provisions of S. 139(5) he could not say that it was non- est . When Commissioner (Appeals) rejected assessee’s claim under section 10BA, assessee filed revised return under S. 139(5) pending his appeal before Tribunal which was decided in favour of assessee. Immediately assessee sought to withdraw revised return to avail benefit of S. 10BA which was held to be not justified . (AY. 2005-06 to 2007-08)
Amit Basu v. Dy. CIT (2018) 252 Taxman 314/167 DTR 110 / (2019) 307 CTR 303 (Raj.)(HC)
S. 139 : Return of income – When the assessee took advantage of provisions of S.139(5),he could not say that it was non-est [ S.10B, 139(5)]