Changes in section 139(4) & 139(5) by Finance Act 2016 not retrospective

Qayum Ismail Mukaddam Vs CIT (ITAT Mumbai) The central issue in the case revolves around the retrospective applicability of changes introduced to sections 139(4) & 139(5) by the Finance Act 2016 in relation to the revision of a belated Income Tax Return (ITR). Analysis : Mukaddam filed a belated return of income, which he later revised to declare a lesser income. The Assessing Officer (AO), however, dismissed the revised return on the basis that it was invalid as the original return was belated. Mukaddam contended that the revision was due to a clerical error he made when filing the origi...