19 December 2008
DURING THE ASSESMENT PROCEEDINGS OF OUR DIRECTOR A REVISED COMPUTATION OF INCOME WAS FILED TO GIVE EFFECT TO CERTAIN HEADS OF INCOME MISSED OUT WHILE FILING THE ORIGINAL RETURN. THIS REVISED COMPUTATION MISSED OUT THE DEDUCTION UNDER SECTION 80C WHICH WAS REFLECTED IN THE ORIGINAL RETURN. THE INCOME WAS ASSESSED BY THE OFFICER AS PER THE REVISED COMPUTATION WITHOUT GIVING EFFECT TO THE DEDUCTION UNDER SECTION 80 C.
CAN WE NOW APPLY FOR A RECTIFICATION UNDER SECTION 154?
19 December 2008
Since deduction was claimed in the original return and missed out in the revised return you can move a rectification application u/s 154.
CAclubindia
