Relief to Mitsubishi: Delhi High Court directs AO to consider Revised Income Tax Return

The Delhi High Court has granted relief to Mitsubishi Corporation by directing the Assessing Officer (AO) to reconsider its revised income tax return for the assessment year 2011-12. The court's decision came after Mitsubishi filed a petition challenging the AO's rejection of its revised return. The company argued that the AO had erred in not accepting the revised return, which was filed within the allowable time frame under the Income Tax Act. The court's directive is aimed at ensuring that Mitsubishi's revised return is reviewed fairly, taking into account all relevant details.