Rectification of mistake u/s 154

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

12 August 2013 In respect of the Asst.Year 2012-13 , ROI relating to Business Income has been filed in time for an assessee who is covered U/s 44AB. Recently,The assessee is in receipt of the intimation U/s 143(1) for the above ROI.

Unfortunately, certain transactions involving capital gains were not included in the ROI filed for the Asst.Year 2012-13.

Please clarify as to whether should the ROI be rectified U/s 154 or should the ROI be Revised U/s.139(9)?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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12 August 2013 Rectification u/s 154 is for a mistake apparent from record.

Omission to include certain income is NOT mistake apparent from record. Accordingly rectification application CANNOT be filed u/s 154.

The assessee has to file a revised return.

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