31 December 2009
The assessee wants to declare additional income for the AY 2007-08.The return was filed after the due date U/s.139(1)
Thus can a return filed belated, can be revised after the receipt of 143(1)intimation and also after the expiry of one year from the end of the assessment year.
Facts of the case:
Mr.X filed the IT return(TAX AUDIT) on 30.01.2008 for the AY 2007-08 without disclosing his Income from CAPITAL GAIN.
Now the assesse wants to disclose his Income form CG.
Return filed belatedly ie)after 139(1) due date and also the time limit of one year from the end of the Relevant previous year for revised return was expired
Whether Revised return can be filed? or else what is the procedure tobe carried on?
03 January 2010
Returns filed U/S 139(1) and 143(1) can be revised within prescribed time, as far as concern the other returns, can not revised on suo motu basis.
CAclubindia
