Belated Return [Section 139(4)] :
(1) Any person who has not furnished a return within the time allowed to him under section 139(1) or within the time allowed under a notice issued under section 142(1) may furnish the return for any previous year at any time –
(i) before the expiry of one year from the end of the relevant assessment year; or
(ii) before the completion of the assessment, whichever is earlier.
(2) A belated return cannot be revised. It has been held in Kumar Jagdish Chandra Sinha v. CIT [1996] 86 Taxman 122 (SC) that only a return furnished under section 139(1) or in pursuance of a notice under section 142(1) can be revised. A belated return under section 139(4) cannot be revised.
| Note – Notice under section 142(1) is served by the Assessing Officer for the purpose of making an assessment –
(i) on any person who has filed a return under section 139(1) to – (a) produce or cause to be produced such accounts or documents as may be required by the Assessing Officer; or (b) to furnish in writing information in the prescribed form on such points or matters as required by the Assessing Officer. (ii) on a person who has not filed his return within the time allowed under section 139(1) or before the end of the relevant assessment year to – (a) furnish a return of his income or the income of any other person in respect of which he is assessable under the Act, in the prescribed form containing the prescribed particulars; (b) produce or cause to be produced such accounts or documents as may be required by the Assessing Officer; or (c) to furnish in writing information in the prescribed form on such points or matters as required by the Assessing Officer. |