K. SREEDHAR RAO, J.

( 1 ) THE account books of A. 1 to 3 disclosed a sum of Rs. 100000/- as loan from A. 4. Accordingly, the returns were filed by A. 1 to 3 for the assessment period 1986-87. The tax authorities conducted search of the premises of A. 4 and found that there is no corresponding entries in the accounts of A. 4 to corroborate the loan of Rs. 100000/- to A. 1 to 3. A. 4 was not able to substantiate the source, hence stated to the income tax authority that the entry is a false entry relating to loan from A. 4 shown by A. 1 to A. 3. The income tax accepted the version of A. 4. The income tax authorities issued notice to A. 1 to 3 for submitting false return. A1 to 3 filed revised returns Under Section 139 (5) of the Income Tax Act. The revised return is accepted. Accordingly, the tax liabilities have been recovered. Later on the department launched prosecution of A. 1 to 4 for committing offence Under Section 276 (c), 277 read with Section 278 of the. T. Act. The provisions of Section 139 (5) reads thus: 139 (5) If any person, having furnished a return under Sub-section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any tim

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