Amendment of assessment order u/s 143(3)

This query is : Resolved 

05 December 2011

Hi friends,

I got an assessment order U/S 143(3) of ITR-1 for AY 2010-11 on 01/11/2011.Due to Unawareness ,when i filed the return u/s 139 I have not claimed certain Deductions under Chapter VI A. Now I want to claim refund from my TDS in form 16 by claiming Chapter VI deductions which are earlier not considered in the return.
Since Assessment order passed U/s 143(3),
What is the remedy available to me ?
Will there be chance of rectification u/s 154 is entertainable. What is the procedure of Rectification u/s 154.

Please assist me in the matter.
I wl be grateful to u.

Abhishek Ranjan Singh (Expert)
05 December 2011

Please take a professional's help to file the rectification. You can file revised return also. By rule it is not possible but practicaly CPC is accepting it.

If you want i can file it

Abhishek Ranjan Singh
ARS Solutions

Ratan Sharma (Expert)
06 December 2011

154 refers to mistake apparent from the face of the record. You have neither claimed deduction in your return of income nor during the assessment proceedings therefore after order u/s. 143(3) you can not file the rectification application. There is no alternative you have to forgo the deduction.
Even if you wish to fight out for your client then you can apply u/s. 264 to the jurisdiction Commissioner of Income Tax. He can make an order for revision of the assessment order. There is no prescribed form for such application. Make an application on plain paper clearly giving details of your case , reason for not claiming deduction in return & during asessment proceedings and mention your prayer. He can revise the assessment order if satisfied.

Ratan Sharma (Expert)
06 December 2011

challan of Filing fees of Rs. 500/- is to be sent alongwith application.

Prakash Kochar (Expert)
04 February 2012

1.Can apply as adviced byRatan Sharma.

2.What Abhishek Ranjan Said is also correct, as held in cases the books produced and verified by AO is a part part of record on basis of which order is passed. In account amounts regarding claims under chapter VI must have debited.
Deduction remained to be claimed by assessee and also not allowed by AO this is mistake apprant from face of recordi. books of accounts under the circumstances rectification application can be preferred.

C A S.S.Agarwal, M.Com.,LL.B, (Expert)
17 March 2012

Ratan Sharma is correct in first portion but in the second portion he has advised to go for 264 but does the CIT have the power to intervene in the matter? The only remedy is to apply to the CBDT for allowing VIA and refund of the tax. No doubt you can also try 264 it might click but you have to hire a strong C. A. or a practitioner to do this

Prakash Kochar (Expert)
17 March 2012

U/s. 264 Hon. Commissioner has power to revise the order after inquiry. revision is for correction in order, if any. A plain application with details of all facts and prayer can be submitted.
Rectification ; application for rectification can be submitted, if in books proper entries for TDS are taken. Books is part of record as held in decided cases and mistake apparent from face of record i.e. books can be rectified.

devendar (Querist)
15 April 2012

Thank you guys.
your advice is so helpful for me.

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