DEPRECIATION U/S 32

This query is : Resolved

vitthal koratkar (Querist)
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18 December 2010 DEAR FRIENDS, AT THE TIME OF FILLING THE RETURN ITR6 IF ASSESSEE FORGETS TO CLAIM DEDUCTION OF DEPRECIATION AS PER IT ACT. ASSESSIING OFFICER COMPLETES THE ASSESSMENT WITHOUT CONSIDERING THE DEPRECIATION U/S32. ASSESS ALSO COME TO KNOW ONLY AFTER RECEIVING THE ORDER AND DEMAND NOTICE THAT THE DEPRECIATION WAS NOT CLAIMED AT THE TIME OF FILLING OF ITR6. AO NOW NOT ALLOWING TO RECTIFY THE SAME U/S154. IS AO CORRECT IN DOING SO. WHAT REMEDY ASSESSEE HAS OTHER THAN APPEAL?

VITTHAL KORATKAR

HUZAIFA HUSSAIN

HUZAIFA HUSSAIN (Expert)
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18 December 2010 PETITION U/S 154 CAN BE FILED IF THE MISTAKE IS APPARANT FROM THE RECORD. IN UR CASE SINCE U YOURSELF HAS NOT CLAIMED DEPRECITION A.O IS CORRECT IN NOT ALLOWING RECTIFICATION PETITION.
EVEN U CANNOT FILE REVISED RETURN SINCE IT IS TO BE FILED BEFORE THE ASSESSEMENT IS COMPLETED. IN UR CASE ASSESSMENT IS COMPLETED.