I filed my revised return in time. Revision was due to some classification issue on presumptive income category. In revised return my self-assessed income increases. In both return there is refund due. But refund due is much smaller in revised return (due to higher income and hence income tax.) as compared to refund due in original return.
Now Income Tax dept. has processed my Original return and also immediately processed my refund based on original return. They are yet to process my revised return. But since higher refund is already processed (based on original return), if they process my revised return now there will be Income tax due. Can ITR assess interest on such income tax due now? Had they processed revised return (in place of original return), there would not have been any Income tax due to dept and I would have got smaller refund.
What should I do now? This relates to AY 2020-21 and both original and revised return were filed in time.
Kindly guide.
Regards
CAclubindia
