Depreciation allowance
This query is : Resolved
Renu Chopra
(Querist)
06 July 2012
dear all,
In filing the ITR for AY 2011-12, the details were not filled-up in the depreciation schedule although the same was claimed in the P&L A/c.
In the intimation U/s 143(1), the AO added back the amount of depreciation to the returned income and raised a demand accordingly.
A request for rectification u/s 154 was filed but the same was rejected by the AO saying that it is not a mistake apparent from records and fresh claim for change of income is not allowable u/s 154.
Pls advise.
In filing the ITR for AY 2011-12, the details were not filled-up in the depreciation schedule although the same was claimed in the P&L A/c.
In the intimation U/s 143(1), the AO added back the amount of depreciation to the returned income and raised a demand accordingly.
A request for rectification u/s 154 was filed but the same was rejected by the AO saying that it is not a mistake apparent from records and fresh claim for change of income is not allowable u/s 154.
Pls advise.
06 July 2012
File a revised return.
Renu Chopra
(Querist)
06 July 2012
dear sir,
thanks for your response but is it not that the revised return can be filed before issue of intimation u/s 143(1)?
thanks for your response but is it not that the revised return can be filed before issue of intimation u/s 143(1)?
06 July 2012
Revised return has to be filed BEFORE completion of assessment.
Intimation u/s 143(1) is NOT an assessment. It is PROCESSING of return.
Accodingly revised return can be filed even AFTER receipt of intimation u/s 143(1)
Intimation u/s 143(1) is NOT an assessment. It is PROCESSING of return.
Accodingly revised return can be filed even AFTER receipt of intimation u/s 143(1)
Message likes :
1 times
Renu Chopra
(Querist)
06 July 2012
thank you very much sir for your valued and to the point opinion in resolving my confusion.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Tax on Amount transferred in HUF Account
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- GST input credit on commercial property
- Nursery business
- TDS on Dashcam rent and allied services
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- Urd purchase entry in tally prime
- GSTR-9C filing
- Capital gains in IT returns
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
