21 May 2024
Dear Sir My name is CA Vijay Kumar. I have a query to the esteemd members and experts pl give me your valuable comments if possible. I have filed an iTR of my client on 29.07.2023 for AY 2023-24. Apart from normal income from business there was income from capital gains. in sch. capital gains wrong date of acquisition feeded despite correct indexation benefit is taken. I realised the mistake after 31.12.2023 so could not revise but filed an updated ITR U with some additional income and tax and corrected the dates. Department sought clarification on 28.02.2024 with extra capital gains, I filed immediately reply with that mistake has happned and kindly consder ITR U or correct my data. However, the Department on 30.04.2024 processed the original return and created the demand by not giving benefit of indexation. Now when I am filing, the rectification request u/s 154 system does not allow saying your latest return is pending (ITR U), Kindly wait till it is processed. I submitted the response to the demand raised under section 143(1), filed a grievance and palanning a grievance on CPGRAM also. My query is here should I file an appeal also against 143(1) order also as the window for appeal will close on 29.05.2024. or what is best course of action ? Should I wait for processing of ITR U, which I have not seen happenning for any ITR U filed so far. I shall be highly obliged to all of the experts. Thanks and Regards.