Rectification appl. can be moved u/s 154?

Save Share

This query is : Open

Sanjay (Querist)
Follow

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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
Follow

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).

Message likes : 1 times

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

11 March 2010 AGREE WITH EXPERT

Sanjay

Sanjay (Querist)
Follow

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?

Sanjay

Sanjay (Querist)
Follow

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

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
Follow

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.

Sanjay

Sanjay (Querist)
Follow

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)

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now