Tag: revised return

Assessment proceeding was vitiated by not taking cognisance of a valid revised return by which original return stood obliterated. In a recent judgment, Hon’ble Tripura High Court has held that once the assessee has a right to file a revised return, and such a revised return was filed …

There is no bar to a taxpayer for making a claim by a letter without filing a revised return in a case u/s 143(3) of the Act – ITAT In a recent judgment, ITAT Rajkot has held that there is no bar to a taxpayer for making a …

Mistakes committed by assessee in return of income can be corrected only through a revised return of income. CPC cannot go beyond the return of income In a recent judgment, Kerala High Court has upheld the judgment of the ITAT that mistakes committed by the assessee while filing …

High Court directs CPC Bangalore to accept physical revised return as time limit for relevant year had expired. In a recent judgment, High Court of Meghalaya directed CPC Bangalore to accept the physical revised return as time limit for filing the revised returns for the relevant accounting year …

Penalty u/s 271AAC deleted by ITAT as income surrendered was declared in revised return substituting original return. In a recent judgment, ITAT Jaipur deleted Penalty u/s 271AAC as income surrendered in survey u/s 133A by the assessee was declared in revised return filed which substituted the original return …

Return can be revised under section 139(5) to claim rebate u/s 87A not claimed in original return due to error and omission. In a recent judgment, ITAT Bengaluru has held revision of return of income u/s 139(5) was valid as there was error and omission in the original …

ITR can’t be revised by AO beyond limitation on direction of ITAT which did not exercising its power u/s 254 to allow the claim In a recent judgment, the Hon’ble Supreme Court has held as the ITAT had not exercised its power under Section 254 to consider the …

Retracting from income offered during survey and challenging non opportunity of cross examination at assessment stage – upheld In a recent judgment, the Hon’ble Supreme Court declined to interfere with the judgment of High Court which upheld the ITAT order where non opportunity of cross examination during assessment …

Assessee while removing defect u/s 139(9) can not revise income originally returned. A corrected return does not have an independent existence and only aids to validate the original return of income filed by the assessee In a recent judgment ITAT has quashed the demand raised by CPC holding …

Provisions for filing of updated income tax return for time barred returns on payment of additional fee – Union Budget 2022-23   Section 139 of the Income Tax Act 1961 contains due dates for filing of Income Tax Return by various categories of taxpayers. However, presently a taxpayer …