Belated Return Filed u/s 139(4) Satisfies Proviso to S.201(1) of Income Tax Act: ITAT Allows Appeal [Read Order]

The tribunal held that these belated returns meet the necessary condition, enabling the assessee to avoid being treated as an "assessee in defaultb"
By Sneha Sukumaran Mullakkal - On October 7, 2024 3:51 pm - 2 mins read
Income Tax - ITAT - ITAT Raipur - Income Tax Return filing - TAXSCAN

The Raipur Bench of Income Tax Appellate Tribunal ( ITAT ) allowed the appeal, stating that belated returns filed under Section 139(4) satisfy the “1st proviso” to Section 201(1) of the Income Tax Act,1961. Meera Roadlines, the appellant-assessee,filed its return of income on 14.11.2019, declaring Rs. 87,490/-. The DCIT, CPC, disallowed Rs. 8,39,753/- in interest…

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