13 October 2010
Where the assessing officer considers that the return of income furnished by the assessee is defective, he may intimate the defect to assessee and give him an opportunity to rectify the defect within 15 days from the date of intimation of the defect.
On application by the assessee, this time limit may be extended by the assessing officer.
If no rectification is carried out within the 15 days period, or within such extended period, the assessing officer shall treat the return as invalid and all the provisions of the Act shall apply as if no return has been filed by the assessee.