Regarding Intimation Under Sec 143(1)

This query is : Resolved

divyesh (Querist)
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12 November 2010 Respected Experts,

I have received notice u/s 143(1) for my partnership firm for A.Y. 2009-10, the return for same was electronically filled on 16/03/2010, wherein there was loss of Rs.3061, but due to late filling i have not claimed loss to be carried forward in my return.

In notice which i have received, under coloum " As computed under sec 143(1)" Department has shown Rs.3061 under " loss in current year to be carried forward", whereas in coloum " As provided by Tax Payer" the same is Rs. 0.

Kindly guide what need to be done by me ?

Regards
Divyesh

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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12 November 2010 No need to do anything. You needed to file Petition u/s 154 only if the intimation was unfavorable for you. So no action required to be taken. Keep the intimation and next time do not forget to claim the carry forward loss.

divyesh

divyesh (Querist)
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13 November 2010 Thanks a lot for your reply,

Can i claim loss to be carried forward , if i am filling return after due date ?

Divyesh

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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13 November 2010 As per rule you can carry forward loss if you have filed belated return. But over here since 143(1) is showing carry forward loss as per department calculation, you can attempt to claim carry forward loss. You will have 143(1) as proof.

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