02 June 2016
I filed my ITR-4 for A.Y 15-16 for which i claimed depreciation of Rs.214000 on car with House property income and two other estimated business incomes aggregating Rs.1,00,000/- under non-maintenance of books of accounts. Depreciation loss had set off against business income income and House property income by which my GTI had come down. But i received intimation u/s 143(1B) of I.T act, 1961 read with clause 2 C (iv) of Centralised processing of returns scheme 2011 with error to file balance sheet and p&l which is impossible in anyway to construst. Then i decided to rectify u/s. 154 by not claiming depreciation loss. Is it good within the act? or should go for filing balance sheet by which i should not get demand?