Section 148 of income tax act

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CA Naishadh trivedi (Querist)

14 August 2012 Dear Experts,

Facts -
One of the assessee had filed return of income for A.Y 2007-08 as Rs.596,75,194. This case was taken assessed u/s 143 of IT Act and income was enhanced to 597,35,860.The tax on increased income was duly paid with interest. Now, again the notice of 148 is issued.

My question is that-

1)Which return is to be filed for 148 i.e returned or enhanced one ??

2)In which form should it be filed if assessee is comapany?

3)Filing of return will be in which mode i.e e-filing or manual ????

Please guide as early as possible
Thanks in advance.....

srinath

srinath (Expert)

14 August 2012 technically speaking you should file the return of income after making adjustments made in 143(3).

Return of income can be filed manually and if assessee is company it would be ITR 6.

Further, go for testing the jurisdiction of the re-opening after obtaining the reasons since 147 assessments cannot be done after the end of 4 years if 143(3) has already been done

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