Defect Rectified Under Section 139(9) Validates Original Return from its filing date

Dalmia Laminators Ltd. Vs ACIT (ITAT Kolkata) ITAT Kolkata held that when original return filed was defective and such defect is removed u/s. 139(9) of the Income Tax Act, the return filed u/s. 139(1) becomes a valid return from the date when it was originally filed. Accordingly, set off business income with carry forwarded business loss allowed. Facts- AO framed the assessment order u/s 143(3) for the A.Y. 2017-18 of the Act. The assessee in its return of income disclosing total income of Rs. Nil and book profit of Rs. 5,54,72,136/-. In the order passed u/s 143(3) of the Act, AO assessed the ...