Response to notice u/s 139(9)

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Querist : Anonymous

Querist : Anonymous (Querist)

07 June 2013 I filed ITR 4 which is returned to me as defective due to negative figure in Net Profit for a case where books of account are not maintained. (error code 14)
Can I now file ITR 2 under sec 139(9), ignoring figures under Business Loss?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

08 June 2013 No it can not be advised to do so.
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The defect can be removed only by filling up the data in Part A -P&L and by providing its corresponding effect in Schedule BP.
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Querist : Anonymous

Querist : Anonymous (Querist)

08 June 2013 Thanks for your reply.
However my problem is as follows:
Error code 14 -- Assessee entering negative amount in gross profit or net profit.
Here I only filled figures in sl no 51 a,b and c (Gross receipts, gross profit and expenses). Net profit is a negative figure computed by the excel utility. The solution provided in notice u/s 139 (9) is Assessee is required to furnish all the details in the Part B of Part A - P and L
However there is no part B of Part A of P &L in the excel utility. So how do I provide whatever details are required - I do not even know what details they are wanting.
Can I modify the figure of expenses (reducing them) so resultant net profit becomes positive? The negative figure is not very significant and I am ready to forego little benefit. Shall be grateful for your advice.

CA PARAS BAFNA

CA PARAS BAFNA (Expert)

08 June 2013 You must be having Part PL. Fill up the Data
on the basis of data earlier furnished in this Part Starting from Item No 1 to 50. Delete the Data from Item No 51.
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Modify Sheet BP also accordingly.
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Or, provide the 4 data , originally , you have furnished.
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