The  Settlement Commission has passed an order under section 245B(4) and it was held that the losses and expenses of the assessee for the assessment year 2015-16 are allowable in the hands of the assessee and a particular sum of money towards item debited in the books of PTAL included in their return where added back and direction was issued to the Assessing Officer to consider the said losses and expenses in the hands of the assessee as the assessment of the assessee under section 153A was pending as on date. On appeal, the Commissioner (Appeals) held that the Assessing Officer was asking the assessee to do something that was legally impossible and therefore the same cannot be approved. On further appeal, the Tribunal also upheld the order of the Commissioner (Appeals).On appeal by the revenue the Court held that  since the search operations in this case were initiated on 2-9-2004, it was no longer necessary for this assessee to file his regular return by 31-10-2004 notwithstanding the mandate of section 139(1). The obligation to file the return remained suspended, in view of the clear opening words of section 153A(1), till such time that a notice was issued to him under clause (a) of such sub-section. If such is the meaning of section 153A(1), the operation of section 139(3) qua the time available for filing a return in order to avail of the benefit of carrying forward any loss stands extended till a return is called for under section 153A(1)(a) and such return is filed, provided the return is filed within the time indicated in the relevant notice under section 153A(1)(a). There can be no dispute to such being the effect of section 153A(1)(a). Order of Tribunal affirmed. (AY. 2015-16)