Section 139(4)???
This query is : Resolved
12 September 2014
139(4) - Belated return
I.e., When person who had not furnished the return of income within the time allowed u/s 139(1) or response to a notice issued u/s 142(1)
Time limit to file return U/s 139(4):
i) Expiry of one year from the end of the relevant assessment year "or"
ii) Completion of assessment
Which ever is earlier
Return filed after date of belated period mentioned u/s 139(4) treated as invalid .
if allowed beyond extended period penalty u/s 271(1)(a) attracted
Vide - Amin chand payarelal vs. ACIT 285 ITR 546 (SC)
I.e., When person who had not furnished the return of income within the time allowed u/s 139(1) or response to a notice issued u/s 142(1)
Time limit to file return U/s 139(4):
i) Expiry of one year from the end of the relevant assessment year "or"
ii) Completion of assessment
Which ever is earlier
Return filed after date of belated period mentioned u/s 139(4) treated as invalid .
if allowed beyond extended period penalty u/s 271(1)(a) attracted
Vide - Amin chand payarelal vs. ACIT 285 ITR 546 (SC)
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