Revising return of income

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Mohan (Querist)
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13 August 2014 Whether income can be reduced and refund of paid taxes can be claimed in revise return of income if wrongfully shown in original return of income filed in time? Will it sustain? Any case-laws or any provisions of Act to substantiate the claim?

Rupesh Jain

Rupesh Jain (Expert)
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13 August 2014 for reducing the income in revised return you have to strong basis for that earlier you have fill the wrong income.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 August 2014 the facts will decide the case as whther u can justify it or not

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 August 2014 rectification can be done to give effect to the errors committed regardless of whether the claim is higher or lower. it will sustain. Though it would be your duty to substantiate the changes made if the case is picked up for assessment.

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 August 2014 i think the question is on revision of return and not rectification of return

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 August 2014 Yes Tushar, I used the wrong word.

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