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Section 139 of the Income-tax Act, 1961 - Return of income - General REVISED RETURN Section 139(5) does not appear to prescribe an intermediary step or provide for an interlocutory order, accepting or rejecting revised return and there-after proceeding with assessment [In favour of revenue] [Assessment year 2008-09] Pyramid Saimira Theatre Ltd. v. CIT [2009] 316 ITR 75 /226 CTR (Mad.) 62 Section 139(5) does not appear to treat a revised return as a petition for an amendment. A petition for amendment, unless ordered as prayed for, cannot implement new pleadings substituted in the place of the original pleadings. Section 139(5) does not appear to prescribe an intermediary step or provide for an interlocutory order, accepting or rejecting the revised return and thereafter proceeding with the assessment. It is only in the order of assessment that the Assessing Officer is competent to accept or reject the revised return. The consideration of the revised return is part of a composite exercise of an assessment and the Assessing Officer cannot proceed stage by stage or piecemeal. Section 140A of the Income-tax Act, 1961 - Assessment - Self assessment PENALTY UNDER SECTION 140A(3) Moment self-assessment is made and a return is filed by petitioner under section 139(1), provisions of section 140A(1) and, consequently, section 140A(3) comes into operation, automatically; where assessee paid self-assessment tax on basis of return filed under section 139(1) on 30-9-2008, even though assessee filed a revised return on 6-3-2009 under section 139(5) later on 6-3-2009, from 30-9-2008, up to 6-3-2009 (date of filing of revised return), petitioner was an assessee in default in terms of section 140A(3) and during this period Assessing Officer was justified in issuing orders of attachment and garnishee notices [In favour of revenue] [Assessment year 2008-09] Pyramid Saimira Theatre Ltd. v. CIT [2009] 316 ITR 75 /226 CTR (Mad.) 62 The liability to pay income-tax chargeable under section 4(1) does not depend on the assessment being made. The moment a self-assessment is made and a return is filed by the petitioner under section 139(1), the provisions of section 140A(1) and,…

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