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Sec. 139(1) or 139(4) (Income Tax)

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( Author )
21 February 2009

Sec 139 (1) and sec 139(4) give different due dates. Since, the return u/s 139(4) can be submitted before the expiry on one year after the relevant Assessment Year is over.


1)An assessee having capital gain do not acquire the property and also do not make deposit in the capital gain account prior to the due date u/s 139(1) and

2) Subsequently he procures the property after the due date u/s 139(1) but before due date u/s 139(4); can he claim the exemption in the return filed u/s 139(4)?

3) Property is to be acquired within 3 years of transfer of the original property through which capital gain is accrued; what if; he makes such investment in the property after the due date 139(1); since the new property is purchased within the time frame as given in Sec 54(F)(1); is the exemption allowable?

4) What if the return u/s 139(1) is filed within the time allowed u/s 139(1) and later on the property is acquired. Can the revised return within the time frame allowed to revise the return; be submitted to claim the exemption?

Any recent case laws?



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