Revising return of income
This query is : Resolved
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
(Expert)
13 August 2014
for reducing the income in revised return you have to strong basis for that earlier you have fill the wrong income.
13 August 2014
the facts will decide the case as whther u can justify it or not
Nikhil Kaushik
(Expert)
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.
13 August 2014
i think the question is on revision of return and not rectification of return
Nikhil Kaushik
(Expert)
13 August 2014
Yes Tushar, I used the wrong word.
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