Revised ITR for AY 2007-08

This query is : Resolved

Shefali Bajpai (Querist)
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11 March 2009 An assessee by mistake forgot to disclose a profesional income of Rs. 89,000 pertaining to AY 2007-08. The Assessee now wants correct his mistake and deposit the tax due alongwith the interest. During that year there was a refund of approx. Rs. 12,000 (without including the Tax on Rs. 89,000) which is yet not received from the department. So can the Assessee revise the ITR now?

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
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12 March 2009 HI SHEFALI,

REVISED RETURN U/S 139(5) CAN BE FILED WITHIN ONE YEAR FROM THE END OF RELEVANT ASSMT. YEAR OR BEFORE THE ASSMT IS MADE WHICHEVER IS EARLIER.
HENCE IN UR CASE REVISED RETURN CAN BE FILED FOR AY 2007-08 BEFORE 31-03-2009. PROVIDED U HAVE FILED ORIGINAL RETURN U/S 139(1)OR IN PURSUANCE OF A NOTICE ISSUED U/S142(1).

Shefali Bajpai

Shefali Bajpai (Querist)
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12 March 2009 Thanks for he reply HUZAIFA.

But in the case mentioned by me above the Assessee filed return after the due date so is there still any provision under the Act, which enables the assessee to revise the ITR?

Besides, if the assessee cannot revise the return what remedies are available for him incase the return is selected for scrutiny? (The income was missed out just by oversight)

The Return was filled on 31.03.08 so what is the time limit within which return can be selected for scrutiny?

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CA. MITHUN KHATRY

CA. MITHUN KHATRY (Expert)
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12 March 2009 you may revise you return upto 31.03.2009