The Tax Publishers2020 TaxPub(DT) 0536 (SC)

Income Tax Act, 1961

Section 261 Section 44BB

Where the assessee preferred appeal against the judgment of Himachal Pradesh High Court in Himachal Pradesh State Forest Corporation Ltd. v. Dy. CIT [Civil Writ Petitions Nos. 590, 591, 592 and 593 of 1992, dt. 5-5-1997] : (1998) 231 ITR 556 (HP-HC) : 1998 TaxPub(DT) 0524 (HP-HC), whereby the High Court held that (i) Board's Instructions No. 1348 dated 30-8-1980 cannot prevail over the statute and as such, as per the instructions given by the Board, the non-compliance with the conditions mentioned in clauses (a) and (e) of the Explanation to section 139(9) would not invalidate the return and (ii) the return filed without audit report under section 44AB was an invalid return, the Supreme Court held that as the assessee did not file any return accompanied by audit report pursuant to notice issued under section 142 of the IT Act, the appeals were dismissed.

Appeal (Supreme Court) - Revised return - Validity - Assessee did not file return accompanied by audit report under section 44AB--Pursuant to notice issued under section 142

Assessee preferred appeal against the judgment of Himachal Pradesh High Court in Himachal Pradesh State Forest Corporation Ltd. v. Dy. CIT [Civil Writ petitions Nos. 590, 591, 592 and 593 of 1992, dt. 5-5-1997] : (1998) 231 ITR 556 (HP-HC) : 1998 TaxPub(DT) 54 (HP-HC), whereby the High Court held that (i) Instructions No. 1348 dated 30-8-1980 cannot prevail over the statute and as such, as per the instructions given by the Board, the non-compliance with the conditions mentioned in clauses (a) and (e) of the Explanation to section 139(9) would not invalidate the return and the return filed without audit report under section 44AB was an invalid return. Held: The issue raised in companion appeals (Civil Appeal Nos. 6418 and 6421 of 2010), decided on 14-1-2020 does not arise in the present appeals. For, the appellant-assessee did not file any return accompanied by audit report pursuant to notice issued under section 142 of the IT Act. Hence, these appeals failed and were dismissed. However, dismissal of these appeals would not preclude the appellant to pursue the remedy before ITAT on merits.

REFERRED :

FAVOUR : Against the assessee.

A.Y. :

IN THE SUPREME COURT OF INDIA

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