22 July 2023
Assessee is a Trust filing return in ITR 7. While filing the ITR 7 for the F.Y. 2021-22 in SCH IE-4 due to oversight assessee missed to fill up the "Amount applied for objective". However, assessee filled up for Gross annual receipts and Balance accumulated in SCH IE-4.
Later the assessee received office communication to submit a response u/s 143(1)(a)(ii)
We submitted a response. Later the assessee received an intimation order by CPC (treating the amount that we missed to fill up in the "Amount applied for objective " as Income From Other Sources u/s 143(1)
Kindly advise whether this is a matter to be applied for as rectification u/s 154 or we should prefer an appeal?
CAclubindia
