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Can return b revised even when refund for d same is received

Nishant (Accounts Assistant) (378 Points)

25 July 2013

Dear Sirs,

An assessee who had filed his return for the AY 2012-13 has received his refund for the same. But now he has discovered certain errors in his return . Consequently can he Revise his return for the year AY 2012-13 now even though the refund for the same has been received ? What will be the implications of the same ?

Kindly mention the relevant provisions or case laws if any , in this regard .

Thanks

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4 Replies

Mihir (Wealth Manager) (5293 Points)
Replied 25 July 2013

Revised return can be filed only when he has filed his return before due date for the relevant AY. I don't think revised return will be allowed where the refund will be enhanced after the revision.

1 Like

Ashish Sharma (Service) (1028 Points)
Replied 25 July 2013

Go For rectification under section 154 of Income tax online.

1 Like

MANOJ CHANDRA SHARMA (JOB) (59 Points)
Replied 26 July 2013

No return can not be revised .As per section 139(5) revised return may be filed before the expiry of one year from the end of relevent A.Y or before the completion of assessment,whichever is earlier.

Since in your case refund has been issued it means return has been precessed and assessment has been done.

1 Like

C.A SUVAJIT SAHU (CA ( In Practice )) (708 Points)
Replied 26 July 2013

Originally posted by : CA MANOJ CHANDRA SHARMA
	No return can not be revised .As per section 139(5) revised return may be filed before the expiry of one year from the end of relevent A.Y or before the completion of assessment,whichever is earlier. Since in your case refund has been issued it means return has been precessed and assessment has been done.