Revise return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

24 October 2012 Dear Sir,
Suppose an assessee has filed his return for AY 2012-13 before due date and department has passed intimation u/s 143(1). Whether the assessee still can file revise return or not.
Please advise me.

taxindiaconnect

taxindiaconnect (Expert)
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24 October 2012 Yes return can be revised any time before end of one year from the AY that is 31.03.2014 or the assesseement is completed u/s 143(3). In this case the time for revise return is avaialble.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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24 October 2012 However please reply for which purpose you want to revise the return.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

24 October 2012 I want to clear that intimation under section 143(1)would be considered as assessment or not ?, for the purpose of revise return.

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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24 October 2012 No, its not the assessment order. It is just intimation how the process of tax computed by the CPC.

OM SAI SRI SAI JAI JAI SAI

Querist : Anonymous

Querist : Anonymous (Querist)

24 October 2012 after the processing u/s 143(1), what percent chances of receive notice under section 143(2) ?

Pramod Kumar Sinha

Pramod Kumar Sinha (Expert)
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29 November 2013 In my opinion only 10% chances of receive notice u/s 143(2).
Cases are selected for scrutiny through manually or CASS. The following are the factors which guide the selection of a case manually-
1. Income returned,
2. Low profitability,
3. Extraordinary expenditure booked,
4. Continuous losses from year to year,
5. Additional Investment in business,
6. Huge borrowings made,
7. Information alter to return,
8. Late filing of return etc.
But in CASS system software has some typical and important criteria on which cases are selected for scrutiny. I am of opinion that it is assumed by the software maker that blunder has to be selected not mistakes.

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