Late Filling of return

ITR 583 views 3 replies

A company assessee belated filled his ITR for the Year 2007-08. But there are some mistakes in It.

Now it want to change its Income statement & Balance sheet, but as per IT Act Belated return can't be revised.

Is there any other way to get its balance sheet and Income Statement get corrected in the records of Income Tax .

As also the related AY 2008- 09 expired .

And also tell me whether for the FY 2008-09 it can made its balance sheet as taken rectified records or as per the records submitted to the Income Tax department. (as specified the records submitted were have some mistakes).

Please give your valuable suggestions as early as possible.

Thank You in advance.

Replies (3)

As per Supreme Court in Kumar Jagdish Chandra Sinha Belated Return cannot be revised.

So there is no remedy and B/S & P/L can't be corrected.

Agree with Sanjay.........

Belated Return cannot be Revised........

I agree with u Mr. Sanjay as I already mentioned it can't be revised.

But is there any other way to road back the company towards its right accounts back or it is correct to continue with wrong one.

Is it right the mistake once done is to carried forward as it is or to correct it .

Whether the option of revision can't be used u/s 154 ?


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