M/S DALMIA POWER LTD. vs THE ASSISTANT COMMISSIONER OF INCOME TAX

The Supreme Court ruled that the Income Tax Department must allow the assessee companies to file revised Income Tax Returns for the Assessment Year 2016-2017 despite the expiration of the due date under Section 139(5) of the Income Tax Act, 1961, due to the pendency of amalgamation proceedings under Sections 230-232 of the Companies Act, 2013. The Court emphasized that the statutory provisions should not hinder the companies' ability to rectify their returns in light of significant corporate restructuring. Consequently, the Court held that the revised returns filed by the appellants were valid and should be accepted by the Department.