A taxpayer filed an original tax return after the due date for AY 2016-17, which was processed. They later attempted to file a revised return claiming a refund due to an income omission, but the IT department deemed it invalid. The taxpayer is seeking advice on whether they can revise a belated return filed after the due date, especially since the rules changed from AY 2017-18. Options like applying for condonation of delay or filing a rectification are being considered, though their applicability to this specific situation is debated.
31 January 2021
Sir, for AY 2016-17, i filed original return after due date u/s 139(4) with zero refund and it was processed by IT dept. But on finding some omission of income, i filed revised return in March 2018 claiming refund of 33000. But, IT dept is saying revised return is invalid since original return filed after due date. I know that from AY 2017-18, belated returns can also be revised u/s 67 of finance act 2016. But, in my case, what is the way forward?
Should i apply to Commissioner of IT for condonation of delay u/s 119(2)(b)?