Revision of return

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archana parab (Querist)

23 April 2014 We have fild a return for A.Y 2013-14 on 21/09/2013 and the same has been processed by the I.T Dept but we need to revise the return is it possible now? as the section says that the return can be revised within 1 year or before the assessment is complete whichever is earlier.. the return status in the site shows processed does it mean that assessment is complete??

Harsha goyal

Harsha goyal (Expert)

23 April 2014 Yes processed means the return has already been assessed. After assessment the return can rectified to correct the mistake which are apparent from record. Thus it is essential that the revision can be made only for those mistakes which are apparent as you have to give reason for rectification.

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Nikhil Kaushik

Nikhil Kaushik (Expert)

23 April 2014 issue of 143(1) intimation is not considered as completion of assessment. So you still have the option of filing a revised return. however, before that the relevant question is whether this return pertains to returns for which due date was 30 September 2013 or 5 august 2013 as belated returns cannot be revised.

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Nikhil Kaushik

Nikhil Kaushik (Expert)

23 April 2014 you may refer Supreme Court verdict in the case of Rajesh Javeri Stock Brokers case 291 ITR 500

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