Tag: revised return

Concealment penalty on filing revised return after enquiry by Investigation Wing deleted as revised return was within the stipulated period prescribed u/s 139(5) ABCAUS Case Law Citation:ABCAUS 3061 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:CIT Vs. Kulwant Singh’ (2019) 104 Taxmann.com 340  The instant …

Manually/Paper filed ITRs can also be now revised online. The facility enabled in e-Filing Portal. Suffix ‘0’ if acknowledgment number is less than 15 digits The facility to upload Revised Return for the returns filed manually (Paper Filed Returns) is now enabled in e-Filing Portal. Taxpayer are required …

When assessee during assessment proceedings voluntarily admitted mistake then mere absence of revised return would not justify penalty u/s 271(1)(c) ABCAUS Case Law Citation: ABCAUS 2738 (2019) (01) ITAT Important Case Laws Cited/relied upon: CIT Vs. Man Industries Ltd.(2018) 164 DTR (Bom) 165 CIT Vs. Somany Evergreen Knits …

Claim of deprecation in revised return cannot be denied on the ground that it was not claimed in original return. Section 119(2)(b) had no applicability to the case- ITAT ABCAUS Case Law Citation: ABCAUS 2517 (2018) 09 ITAT Important Case Laws Cited/relied upon by the parties: Principal Commissioner …

There is no bar in filing revised return of income after issue of income tax notice u/s 143(2). There is no such provision in section 139(5) of the Income Tax Act that the assessee cannot file a revised return of income after issuance of notice – ITAT ABCAUS Case …

Assessment made on revised ITR with fake figures filed for bank loan purpose quashed as the original return was belated and revised return was invalid legally.   ABCAUS Case Law Citation: ABCAUS 2202 (2018) (02) ITAT Brief Facts of the Case: The appellant assessee was an individual engaged …

How to change wrong personal details filled in income tax return. For wrong personal details (i.e. Bank Account, Address, Mobile number and e-mail id) filled inadvertently in the ITR, there is no need to revised the return. Income Tax E-filing website has added a new feature to correct such wrong …

Deductions not claimed for CA mistake allowable during assessment proceedings if found correct and there is no need to file revised return-ITAT ABCAUS Case Law Citation: ABCAUS 1089 (2016) (12) ITAT The Grievance: The present appeal was directed against the order of Assessing Officer (AO) and CIT(A) inter …