Deduction u/s 10(10c) of the i t act

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

01 April 2015 Assessee filed his return of income declaring income from salary and VRS amount. He did not claim exemption U/S 10(10C) as he was informed that he is not eligible for the exemption. His assessment was completed. Some of the employees filed an appeal and got the relief from ITAT Bangalore. Based on the above, the assessee filed a revised memo claiming exemtpion U/S 10(10C). Since the assessment was completed, he cannot file a revised return.

My query is how to get the relief. Can he file a petition U/S 119(2) to the Commissioner.

Please reply.

CA. SHIVA SHANKARA R. SHETTY

CA. SHIVA SHANKARA R. SHETTY (Expert)
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01 April 2015 For AY 2013-14, my assessment has completed in the month of Jan 2014 and Rs. 20,000/- refund credited to my account. Then, in the month of Feb, 2014 Rs. 85,000 has been credited to my form 26AS. Then, i filed revised return in the same month and it processed and again balance refund along with the interest was credited to my bank account in the month of Sep 2014.

Why I'm giving my own example means, IT dept will process the revised return filed after the original return processed, only in the case of major changes in the revised return.

So, in your case, claim u/s. 10(10c) is an major changes compare to original return. Therefore, you can file the revised return and wait for minimum 6 months for the result.