22 October 2014
I am observing that some people are filing belated returns which can not be filed as the time limit is over, are clicking the option of section 142 and filing the return just to show that they have filed the return for some other purpose Please clarify whether such returns are valid returns as the system is accepting or they are not valid in the absence of notice. Whether the Dept can take any action on such returns. I think CPC will not process such returns and send them to the ITO concerned. What are the consequences of such filing. Is it a loophole in the e-filing system to mislead others by stating that the person has filed a return and eligible for bank loan or some other benefit
CAclubindia
