Section 154 of it act.
This query is : Resolved
20 August 2013
Sir/Mam,
For the return filed AY 2012-13, we forgot to give Depreciation Schedule and hence depreciation was Disallowed and We got Intimation U/s 143(1) as demand notice for the extra tax as a result of the Disallownace.
Kindly advice how to rectify the Mistake.
can we request for Rectification u/s 154 as it says only Mistakes apparent from record will be considered for request.
Kindly help and also advice the procedure if any.
Thank you all in advance .....
For the return filed AY 2012-13, we forgot to give Depreciation Schedule and hence depreciation was Disallowed and We got Intimation U/s 143(1) as demand notice for the extra tax as a result of the Disallownace.
Kindly advice how to rectify the Mistake.
can we request for Rectification u/s 154 as it says only Mistakes apparent from record will be considered for request.
Kindly help and also advice the procedure if any.
Thank you all in advance .....
20 August 2013
Dear Pallavi,
Since the return for AY 2012-13 is not yet barred by time and you have got an Intimation u/s 143(1) you can file a Revised Return to rectify your mistake.
Revised Return cannot be filed only if the assessment order has been issued and, the intimation u/s 143(1) is not an assessment order even though it may be a notice of demand. This has been held by SC in ACIT vs Rajesh Jhaveri Stock Brokers P Limited 291 ITR 500
Since the return for AY 2012-13 is not yet barred by time and you have got an Intimation u/s 143(1) you can file a Revised Return to rectify your mistake.
Revised Return cannot be filed only if the assessment order has been issued and, the intimation u/s 143(1) is not an assessment order even though it may be a notice of demand. This has been held by SC in ACIT vs Rajesh Jhaveri Stock Brokers P Limited 291 ITR 500
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