Revised Return

This query is : Resolved

Saravanan (Querist)
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15 October 2009 Please answer my below mentioned query

One of my friend, filed his return on 30th Sept 2008 (Tax Audit Case) for AY 2008-2009. On december 2008, IT department went to his place and conducted survey. On March 2009 he has filed revised return for AY 2008-2009. Now, he wanted to file one more revised return for AY 2008-2009. It is possible?? If it is possible pls inform me of which section is allowing to file revised return on revised return already filed.

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CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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15 October 2009 Sec 139(5)

Revised Return can be filed within one year from the end of relevent A.Y or before the assessment is made.There is no restriction on number of revised return.

An assessee who is required to file a return of income is entitled to revise the return of income originally filed by him to make such amendments, additions or changes as may be found necessary by him. Such a revised return may be filed by the assessee at any time before the assessment is made. There is no limit under the income tax Act in respect of the number of time for which the return of income may be revised by the assessee.

CA SANJAY MUKHERJEE

CA SANJAY MUKHERJEE (Expert)
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15 October 2009 However please take note that

Cases of concealments and false statements are not covered - Section 139(5) will apply only to cases of â€˜omission or wrong statementsâ€™ and not to cases of â€˜concealment or false statementsâ€™ - CIT v. J.K.A. Subramania Chettiar [1977] 110 ITR 602 (Mad.); Addl. CIT v. Radhey Shyam [1980] 123 ITR 125 (All.).

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