Depreciation allowance

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Renu Chopra (Querist)
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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.

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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06 July 2012 File a revised return.

Renu Chopra

Renu Chopra (Querist)
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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)?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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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)

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Renu Chopra

Renu Chopra (Querist)
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06 July 2012 thank you very much sir for your valued and to the point opinion in resolving my confusion.

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