ITR Processed, can i file revised return?

Quick Summary
This discussion explores whether a revised Income Tax Return (ITR) can be filed after the original has been processed. While some initially believe it's not possible, the consensus is that a revised return can indeed be filed as long as the time limit for revision hasn't expired. Filing a revised return effectively treats the original as non-est, and it can be done multiple times. However, a significant reduction in declared income might lead to scrutiny.

Normally there should be any time gap because completion of ITR processing is nothing but completion of summary assessment. since intimation to be issued after the approval of competent authority, time gap is possible
Is there any penalty for revised ITR?

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