Dear All,
I have an Assessee to whom IT notice came and scrutiny is in process, and while in this contest the assessee filled his return two times for the Assessment Year 2011-12, so i want to know is there any consequences regarding this.
Sai Ganesh (Article Assisstant ) (254 Points)
26 March 2014Dear All,
I have an Assessee to whom IT notice came and scrutiny is in process, and while in this contest the assessee filled his return two times for the Assessment Year 2011-12, so i want to know is there any consequences regarding this.
Manoj Mehta
(Head Of Department (Accounts & Finance))
(1479 Points)
Replied 26 March 2014
Dipjyoti Majumdar
(CA in service & CS. dipmaj@ rediffmail.com )
(3468 Points)
Replied 26 March 2014
If you have filed a revised return after receiving intimation under 143(1) it is in order. The AO has to accept the revised ITR. But yes, if you have increased income / reduced expenses therein, penalty may be imposed for concealment of income.
You can file n numbers of revised ITRs before completion of assessment.
Thanks,
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