Can a revised return be filed during assessment proceeding

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Vivek Agrawal

GST Practitioner

125 Points Posted on 14 January 2016

The IT return of AY 2012-13 was filed on due date.

A revised return was file before 31.03.2015

Now the assessment is under process u/s 143 (3) in the current month say Jan 2016 and it has not been completed till date

At the time of assessment proceeding, i find that wrongly i did not adjust the C/f depreciation loss of earlier year and as such my taxable income is showing more.

Now can i file a revised return during assessment proceeding to correct the above mistake.

Replies (6)

CA Mehul Chudasama

Chartered Accountant

593 Points Posted on 14 January 2016

139(5) If any person, having furnished a return under sub-section (1), or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier

Udgam Koomar

Tax Technologist

2037 Points Posted on 14 January 2016

Agree to mehul above

Income Tax Wala: (Fin. Expert)

Chartered Accountants

1412 Points Posted on 14 January 2016

you can not file revise return now

because revised return can be revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier

and in your case your return could be revised only upto or before 31/03/2014 or completion of assessment Which ever is earlier.

Hence 31/03/2014 is earlier than completion of assessment .

but my advised is to check the dates and assessment year you have mentioned in your question. It seems something wrong.

Rohit Johri

Team Lead

26 Points Posted on 16 January 2016

In case of AY 2012-13, ITR can be revised only upto 31.03.2014 even if assessment is not completed by 31.03.2014. Now during assessment, ITR for AY 2012-13 cannot be revused.

Rohit Johri

Team Lead

26 Points Posted on 16 January 2016

In case of AY 2012-13, ITR can be revised only upto 31.03.2014 even if assessment is not completed by 31.03.2014. Now during assessment, ITR for AY 2012-13 cannot be revised.

Tony John

Chartered Accountant

4059 Points Posted on 16 January 2016

There is no bar in the number of revised returns that may be filed in order to make good an omission or wrong statement in the earlier return filed. But it must be filed within the time limit prescribed in Section 139(5).

Hence with the given info, my opinion is that the last date upto which you could have validly filed a revised return for AY 2012-13 was 31-03-2014 since the scrutiny assessment has not been completed yet.