11 April 2011
My client has received 143(1) notice. On a check I found that, intstead of setting of business loss against other income, business loss shown in ITR as carry forward. Time limit for revision of ITR is already over. Is there any way to revise the ITR now?
11 April 2011
A particular caselaw says' The A.O. can rectify the intimation u/s 143(1) only with a view to determine any sum payable by the assessee or any refund due to the assessee strictly on the basis of returned income and not after redetermining the income shown by the assessee in the return of income'.
So my doubt is if 154 rectification solve the problem.
12 April 2011
Please Quote That Particular case Law; Because we don't have It. If Your or Talking About 'Prima Facie Adjustment' at Department's End strict on the basis of Returned Income, It is Possible.
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