Intimation u/s 143(1)

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manoj rathod (Querist)
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30 November 2011 DEAR EXPERT

WE HAVE RECEIVED INTIMATION U/S 143(1) FROM CPC BANGLORE IN WHICH

TOTAL INCOME AFTER DEDUCTION IS SHOWN[AS PROVIDED BY TAX PAYER IN RETURN OF INCOME] RS 735040/- & [AS COMPUTED UNDER SECTION 143(1)] RS.1122140/-

THE DIFFRENCE IS OF DEPRICIATION MEANS WE ARE NOT ALLOWED DEPRICIATION BY DEPARTMENT, WHY IT HAPPENED, WHAT SHOULD WE DO NOW, CAN WE SEND LETTER TO CPC & INFORM THEM ABOUT THE POINT

PLS GUIDE
THANKS

CA VISHAL RANA,CS,B.Com,AMFI

CA VISHAL RANA,CS,B.Com,AMFI (Expert)
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30 November 2011 As per judgement in case of Goetz India ltd

supreme court clarify that assesee can't rectify mistake by sending a letter of correction to Deptt,,,,Revised return required to be filled for correction of mistake.

In this case you shall revise your return...

wait for opinion of other experts

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Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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30 November 2011 Mr.Vishal Rana your view is correct but the mistake at the side of taxpayers but in the above case the department not allowed depreciation as deduction but the taxpayers claimed same in his return of income. so the mistake is at the department side so i think it is possible to write letter to get correction or re-assessment or to know the reasons to add back of depreciation.
So i suggest to Mr.Manoj Rathod please write to the department to know the reasons for not allowed depreciation and request if they are in mistake correct and re-assesse the income tax return.
However please wait for some experts decisions.
OM SAI SRI SAI JAI JAI SAI

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Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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30 November 2011 Please wait for some experts decisions. correct me if i mistake.
OM SAI SRI SAI JAI JAI SAI

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CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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30 November 2011 Manoj Bhai,

I am sure that you have claimed the depreciation but the CPC might have not understood it. You just go through the return filed by you and check whether you have filled up schedules for Depreciation in Schedule DPM, DOA and DEP correctly. I afraid ...you have not filled up these.
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Still there is no harm ... you just fill up correctly the schedules and make rectification by uploading the new corrected XML file on the e-filing website of IT. You may find the Rectification Tag in "My Account" column.
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Just file the rectification application and wait for the rectification order.
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If this process does not result in positive then follow the advises given by our experts.

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