SEO Sai Gr. Hosp.
198432 Points
Joined July 2016
I would suggest that:::
Whatever you had declared in original return......... would be verified by your books of accounts, bank statements etc. etc.....
Now if you fill that the assessing officer may search out some objectionable transactions and penalize for that.............. you have been given a chance to revise it and make best suitable to your actual transactions.
Both way........ any such transactions, declared would required authetic reasons for its taxability (ie when exempt). Undeclared transactions cannot have any reason, as you are supposed to declare each and everything and offer any tax liability over it.
It is generally experienced that many such authetic reasons which may not be accepted by officer (for the benefit of department), are declared in favor of assessee in tribunal &/or courts.
Finally, let me suggest to do proper homework and accept your tax liabilities in the revised return; thus release maximum stress in the beginning itself.