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Revised return
Dear Friends, I need your kind advise on a matter. One of my friend got his ITR for AY 2013-14 e-filed with the help of someone. That person, without the knowledge of my friend, furnished false particulars, i.e. higher savings etc. and got the entire TDS refunded. The refund has been received by him and the assessment is also complete. Now my friend has come to know the same and he wants to revise his return. I am planning to revise his return u/s 139(5). He will pay the amount refunded to him along with interest calculated u/s 234D.
Kindly advice me that after the above, can the department still levy panelty charges on him.
Warm Regards,
Rahul Singhal
Replies (2)
No penalty will be levied if there is no malafide intention and mens rea.
File the revise return u/s 139(5).
Pay the the Refund with the Interest u/s 234 D.
There are numerous cases, where it has been upheld that the Revenue never intend to harass the genuine truthful Tax Payer.
You should have documentary proofs in this regard to justify the innocence.
SIMPLE RULE : NO DECEIT, NO PENALTY.
Dear Mr. Rashid,
Thank you for the guidance and encouragement.
Warm Regards,
Rahul Singhal
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