Income Tax Act, 1961
Section 13: Subs. by Act 67 of 1984, s. 25, for “twelve per cent.” (w.e.f. 11984).
13. Subs. by Act 67 of 1984, s. 25, for “twelve per cent.” (w.e.f. 11984).
562
(b) in the case of every other assessee, the 30th day of June of the assessment year.]
1[Explanation 2.—Where, in relation to an assessment year, an assessment is made for the first time
under section 147, the assessment so made shall be regarded as a regular assessment for the purposes of
this sub-section.]
2[(b) Where as a result of an order under section 147 or section 154 or section 155 or section
250 or section 254 or section 260 or section 262 or section 263 or section 264 3[or an order of the
Settlement Commission under sub-section (4) of section 245D], the amount of tax on which interest was
payable under this sub-section has been increased or reduced, as the case may be, the interest shall be
increased or reduced accordingly, and—
(i) in a case where the interest is increased, the 4[Assessing Officer] shall serve on the assessee, a
notice of demand in the prescribed form specifying the sum payable, and such notice of demand shall
be deemed to be a notice under section 156 and the provisions of this Act shall apply accordingly;
(ii) in a case where the interest is reduced, the excess interest paid, if any, shall be refunded.]]
5[(c) The provisions of this sub-section shall apply in respect of the assessment for the assessment
year commencing on the 1st day of April, 1988, or any earlier assessment year, and references therein to
the other provisions of this Act shall be construed as references to the said provisions as they were
applicable to the relevant assessment year.]
6[(9) Where the 4[Assessing Officer] considers that the return of income furnished by the assessee is
defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect
within a period of fifteen days from the date of such intimation or within such further period which, on an
application made in this behalf, the 4[Assessing Officer] may, in his discretion, allow; and if the defect is
not rectified within the said period of fifteen days or, as the case may be, the further period so allowed,
then, notwithstanding anything contained in any other provision of this Act, the return shall be treated as
an invalid return and the provisions of this Act shall apply as if the assessee had failed to furnish the
return:
Provided that where the assessee rectifies the defect after the expiry of the said period of fifteen days
or the further period allowed, but before the assessment is made, the 4[Assessing Officer] may condone
the delay and treat the return as a valid return.
Explanation.—For the purposes of this sub-section, a return of income shall be regarded as defective
unless all the following conditions are fulfilled, namely:—
(a) the annexures, statements and columns in the return of income relating to computation of
income chargeable under each head of income, computation of gross total income and total income
have been duly filled in;
7* * * * *
1. Subs. by Act 67 of 1984, s. 25, for Explanation2 (w.e.f. 11985). Earlier the Explanation was renumbered as
Explanation2 thereof by Act 16 of 1972, s. 26 (w.e.f. 11971).
in the case of every other assessee, the 30th day of June of the assessment year.]
1[Explanation 2.—Where, in relation to an assessment year, an assessment is made for the first time
under section 147, the assessment so made shall be regarded as a regular assessment for the purposes of
this sub-section.]
2[
Where as a result of an order under section 147 or section 154 or section 155 or section
250 or section 254 or section 260 or section 262 or section 263 or section 264 3[or an order of the
Settlement Commission under sub-section
of section 245D], the amount of tax on which interest was
payable under this sub-section has been increased or reduced, as the case may be, the interest shall be
increased or reduced accordingly, and—
in a case where the interest is increased, the 4[Assessing Officer] shall serve on the assessee, a
notice of demand in the prescribed form specifying the sum payable, and such notice of demand shall
be deemed to be a notice under section 156 and the provisions of this Act shall apply accordingly;
in a case where the interest is reduced, the excess interest paid, if any, shall be refunded.]]
5[
The provisions of this sub-section shall apply in respect of the assessment for the assessment
year commencing on the 1st day of April, 1988, or any earlier assessment year, and references therein to
the other provisions of this Act shall be construed as references to the said provisions as they were
applicable to the relevant assessment year.]
6[
Where the 4[Assessing Officer] considers that the return of income furnished by the assessee is
defective, he may intimate the defect to the assessee and give him an opportunity to rectify the defect
within a period of fifteen days from the date of such intimation or within such further period which, on an
application made in this behalf, the 4[Assessing Officer] may, in his discretion, allow; and if the defect is
not rectified within the said period of fifteen days or, as the case may be, the further period so allowed,
then, notwithstanding anything contained in any other provision of this Act, the return shall be treated as
an invalid return and the provisions of this Act shall apply as if the assessee had failed to furnish the
return:
Provided that where the assessee rectifies the defect after the expiry of the said period of fifteen days
or the further period allowed, but before the assessment is made, the 4[Assessing Officer] may condone
the delay and treat the return as a valid return.
Explanation.—For the purposes of this sub-section, a return of income shall be regarded as defective
unless all the following conditions are fulfilled, namely:—
the annexures, statements and columns in the return of income relating to computation of
income chargeable under each head of income, computation of gross total income and total income
have been duly filled in;
7* * * * *
1. Subs. by Act 67 of 1984, s. 25, for Explanation2 (w.e.f. 11985). Earlier the Explanation was renumbered as
Explanation2 thereof by Act 16 of 1972, s. 26 (w.e.f. 11971).