Revised ITR u/s 139(5) was allowed only for errors in the original return

CIT Vs Gujarat State Energy Generation Ltd (Gujarat High Court) Conclusion: A taxpayer could submit a revised return u/s 139(5) only when it discovered a bona fide omission or incorrect statement in the original return submitted u/s 139(1). Thus, the provisions could not be used to make intentional or afterthought amendments. Held: Assessee-company filed its original return declaring income and claiming depreciation under the Straight Line Method (SLM) under Rule 5 read with Appendix-IA of the Income Tax Rules. The return had been processed by the department u/s 143(1) and granted a refund. Th...