Regarding section154

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This query is : Resolved

Chandra Prakash (Querist)

23 November 2013 Q. I had filed my return on time and it had processed on 25/10/2013. But by mistake I had not claim deduction of interest u/s 24. my question is can I go for rectification u/s 154 now. thanks

C P Jha.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

23 November 2013 As you have not claimed the deduction it can not be said as a mistake apparent on records. I would like to revise the return in such a case.
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CA VISHNU GAVKARE

CA VISHNU GAVKARE (Expert)

23 November 2013 Sir, Is there any case law on this? as much as i think Mistake shall be apparent from records shall include this case. further return can not be revised as it is belated return. hence it is better to file application u/s 154.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

23 November 2013 Original query -

"I had filed my return on time and it had processed on 25/10/2013. "
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1. Then it can not be said that the return is belated.

2. When no document is being filed with the return then it can hardly be said that any thing is on record for treating the same as mistake is apparent on records.

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