19 October 2018
I HAVE FILED ORIGINAL RETURN FOR A Y 16-17 ON 31.05.16 SHOWING STCG OF FLAT SALE RS. 40 LACS. AFTER 1 YEAR I HAVE REVISED RETURN SHOWING STCG RS 22 LACS. OUT OF 4 FLAT 1 FLAT AGREEMENT CANCELLED IN MARCH 17 COST OF RS. 22 LACS. I HAVE RECD REFUND OF I TAX IN THE A Y 16-17. NOW ITD ISSUE SHOW CASE UNDER 142(1) ASKING REASON ABOUT YOU HAVE FILED WRONG RETURN U/S 139(5). WE HAVE NOT ACCEPT THE SAID RETURN AND ADD BACK THE SAID TRANSACTION AS INCOME. PLS GUIDE ME WHAT I NEED TO DO?
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