Revised Return

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2010 Their was some mistake at the time of filing e-return and we have now recieved a Notice from centralised Processing Unit-Bangalore under Section 143(1) demanding some tax.

CA Sanat Pyne

CA Sanat Pyne (Expert)
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28 July 2010 YOU HAVE NOT MENTIONED A.Y .
HOWEVER IF THE A.Y. IS 2009-10,
THEN YOU CAN REVISE YOUR RETURN.

CA. BIJENDER KR. BANSAL

CA. BIJENDER KR. BANSAL (Expert)
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28 July 2010 if you have filed return within time limit u/s 139(1), then you can revise return and write a letter u/s 154 for rectification of notice u/s 143(1)

mohinder kansal

mohinder kansal (Expert)
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28 July 2010 from query, it is not clear why the demand is raised. if there is mistake which is apparent from records or calculation mistake, application for rectification u/s 154 should be filed to CPC.

Querist : Anonymous

Querist : Anonymous (Querist)

28 July 2010 (Gross Profit-Depreciation-Interest-Other Expenses- ...etc etc)= Net Profit

And Income tax is paid on Net Profit....

So while in calculation of net Profit....

The amount which was deducted as Interest from Gross Profit ws wrongly entered...

So as an outcome,,the department has raised my NET PROFIT amount and is demanding to pay further TAX and accordingly CPC has issued me a demand order U/s 143(1).

However it might be clear,,that it was just a typing error......
What steps should I take now??

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 August 2010 Please check notes on last page of your notice u/s 143(1).

It is clearly written---

If you are not satisfied with the intimation u/s 143(1), you may seek rectification as per sec. 154 with CPC or appeal u/s 246A of the IT Act, 1961, in your territorial jurisdiction.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 August 2010 Section 154 of the Income Tax Act, 1961 provides that any mistake apparent from the record can be rectified by the assessing authority within expiry of four years from the end of the financial year in which the order sought to be amended was passed. Rectification can be done by the assessing authority on its own or on the same being brought to its notice by the assessee. Various judicial pronouncements have held that the expression “mistake apparent from record” would mean an obivious and patent mistake and on which no further elucidation and/or arguments are required. Any decision on debatable issue cannot be treated as a mistake apparent from record.

So in my view you should first seek rectification as per sec. 154 with CPC, mentioning relevant fact with relevant documents.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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01 August 2010 Format:---

Date:

To
CPC Banglore,
..............
..............
...............

Dear Sir,

Ref: - Your Intimation U/s 143 (1) dated: ........ for the A.Y ........, Received on ........ (PAN ..........)

Sub: - Rectification of Intimation U/s 154 of the Income Tax Act, 1961.

I have received your above mentioned intimation U/s 143(1) of the Income Tax Act which is showing a demand of Income Tax of Rs. ....../-

In this connection i want to bring in to your kind notice that....................................................................................................
............................................................................................................................................................
............................................................................................................................................................
............

I therefore request you to please rectify your above mentioned intimation U/s 154 and issue a rectification order to that effect at the earliest.

Thanks you,

Yours faithfully,

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