Itr v reached cpc after 120 days

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CA Amol Gupta (Querist)

20 June 2014 ITR 4S filed after due date (02.01.2014) and the ITR V failed to reach CPC before 120 days (it reached on 122 days)
Now the status is ITR V received after due date?
What should be done to get the return process?

thanks

Rupesh Jain

Rupesh Jain (Expert)

20 June 2014 you can send the return , at present CPC send the reminder by mail to all assesse whose return not received by CPC in 120 days. at present no penalty prov. exit for that .

CA Amol Gupta

CA Amol Gupta (Querist)

20 June 2014 but now how should one get the return processed if it not reach CPC within 120 days?

CA Amol Gupta

CA Amol Gupta (Querist)

20 June 2014 the ITR V received to CPC on 04.06.2014 and the return was filed on 02.01.2014.
And the status on online portal is "ITRV received after due date"

Rupesh Jain

Rupesh Jain (Expert)

20 June 2014 r/sir

there no penalty prov for sending the return . return deposit with in time limit.

Nikhil Kaushik

Nikhil Kaushik (Expert)

20 June 2014 Dear Rupesh,

please note that if the ITRV is not received within 120 days, it becomes non-est. So the assessee has to wait for the extension to be announced by department and refile. It is not an issue of penalty but of existence of return itself.

however, it is also pertinent to note that 120 days limit has not been set under any law /rule/notification. so it can be challenged.

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