Rectification appl. can be moved u/s 154?
This query is : Open
11 March 2010
An assessee has deposited Rs 600000 in 5yr Term deposit eligible for deduction U/S 80C of I.T. Act.
For AY 2009-10 , assessee has filed ROI as on 08.03.2010(after due date;due date is-31.07.2009).Therefore Revised Return canot be filed.
Now my query is Whether Assessee can move application u/s 154 for claiming deduction u/s 80C?
Eagerly waiting for expert opinion.
Thanking You
Sanjay
For AY 2009-10 , assessee has filed ROI as on 08.03.2010(after due date;due date is-31.07.2009).Therefore Revised Return canot be filed.
Now my query is Whether Assessee can move application u/s 154 for claiming deduction u/s 80C?
Eagerly waiting for expert opinion.
Thanking You
Sanjay
11 March 2010
The records will show that there is no error to be rectified. There is only an omission. Hence application under section 154 will not sustain.
N:B:- Question of rectification arises only after assessee receives either an intimation u/s 143(1) or an assessment order u/s 143(3).
N:B:- Question of rectification arises only after assessee receives either an intimation u/s 143(1) or an assessment order u/s 143(3).
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11 March 2010
AGREE WITH EXPERT
12 March 2010
Thank you Warrier sir for reply.
"N:B:- Question of rectification arises only after assessee receives either an intimation u/s 143(1) or an assessment order u/s 143(3)"
Sir ,
Clause (b) of Section 154(1) says that-
"Income tax authority may amend any intimation or DEEMED INTIMATION under sub-section (1) of sec 143."
QUE.(1) So is it not possible to move 154 on the basis of Ackn?
"N:B:- Question of rectification arises only after assessee receives either an intimation u/s 143(1) or an assessment order u/s 143(3)"
Sir ,
Clause (b) of Section 154(1) says that-
"Income tax authority may amend any intimation or DEEMED INTIMATION under sub-section (1) of sec 143."
QUE.(1) So is it not possible to move 154 on the basis of Ackn?
12 March 2010
Dear Sir
Suppose in above case an assessee have forgotten to claim TDS (instead of time deposit) worth Rs.60000/-at the time of filing Belated ROI.
Now,
QUE.(2) can he move sec 154?
Thanking You
Sanjay
Suppose in above case an assessee have forgotten to claim TDS (instead of time deposit) worth Rs.60000/-at the time of filing Belated ROI.
Now,
QUE.(2) can he move sec 154?
Thanking You
Sanjay
12 March 2010
NO. AS ACKNOWLEDGEMENT IS NOT AN INTIMATION IT IS GENERATED BASED ON YOUR FILING OF RETURN. ANYWAYS YOU CAN WRITE A LETTER TO YOUR AO INTIMATING HIM THE MISTAKE MADE BY YOU WHILE FILING RETURN ALONG WITH COPY OF TDS CERTIFICATE.
14 March 2010
Dear Gupta sir
I do not agree with your view that Acknowledgwment is not an Intimation.
Kindly Refer Explanation (b) of Section 143(1)
I do not agree with your view that Acknowledgwment is not an Intimation.
Kindly Refer Explanation (b) of Section 143(1)
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