Arbitration has become a well-sought-after dispute resolution mechanism due to its expedience, and finality. However, arbitration has not always been synonymous with speedy resolution.... Read more »
The appellant initially filed a return in November 1989 and revised it twice. The Income Tax Officer rejected the second revised return, declaring that it was barred by limitation u/s 139(5) of the Income Tax Act, 1961 which only allows a revised return to be filed before the earlier of two dates – one year… Read more »