Section 154 of it act.
This query is : Resolved
20 August 2013
Sir/Mam,
For the return filed AY 2012-13, we forgot to give Depreciation Schedule and hence depreciation was Disallowed and We got Intimation U/s 143(1) as demand notice for the extra tax as a result of the Disallownace.
Kindly advice how to rectify the Mistake.
can we request for Rectification u/s 154 as it says only Mistakes apparent from record will be considered for request.
Kindly help and also advice the procedure if any.
Thank you all in advance .....
For the return filed AY 2012-13, we forgot to give Depreciation Schedule and hence depreciation was Disallowed and We got Intimation U/s 143(1) as demand notice for the extra tax as a result of the Disallownace.
Kindly advice how to rectify the Mistake.
can we request for Rectification u/s 154 as it says only Mistakes apparent from record will be considered for request.
Kindly help and also advice the procedure if any.
Thank you all in advance .....
20 August 2013
Dear Pallavi,
Since the return for AY 2012-13 is not yet barred by time and you have got an Intimation u/s 143(1) you can file a Revised Return to rectify your mistake.
Revised Return cannot be filed only if the assessment order has been issued and, the intimation u/s 143(1) is not an assessment order even though it may be a notice of demand. This has been held by SC in ACIT vs Rajesh Jhaveri Stock Brokers P Limited 291 ITR 500
Since the return for AY 2012-13 is not yet barred by time and you have got an Intimation u/s 143(1) you can file a Revised Return to rectify your mistake.
Revised Return cannot be filed only if the assessment order has been issued and, the intimation u/s 143(1) is not an assessment order even though it may be a notice of demand. This has been held by SC in ACIT vs Rajesh Jhaveri Stock Brokers P Limited 291 ITR 500
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- TDS CREDIT MISMATCHING
- Buy back of shares u/s69
- Unregistered suppliers utility
- Difference between Date of Payment and Date of Deduction?
- Tax Audit Applicability – Newly Formed Partnership Firm with Profit Below 6%/8%
- ADDITION OF CHALLAN IN TDS RETURN FORM 140
- TODAY INCOME TAX SITE IS NOT WORKING ANY OFFICIAL EXTENSION
- FCRA 6 E- Intimation
- URGENT-Eligible leaves being shown as 24 days for 3 years Articleship instead of 156 days in 108
- ITR 4 and Bank transactions
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
- Concept of Vendor and customner reconciliation
- Mistake in e-invoice identified after 24 hours
- EXPORT PAYMENT
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
