04 September 2018
Dear Member, One of my client received Notice U/s 139(9) for Defective return for AY 2017-18 with an error code 332 : Tax Payer has shown gross Receipt or income under the head " PGBP" more than Rs1 Crore; However, Part A of the Profit & Loss Account and/or Balance Sheet have not been filed and the books of accounts have been audited'. After verification of his ITR & P&L and Balance sheet, he shows net sale as Rs 98 Lacs as Turnover & in Other income Rs 2.75 Lacs as other receipt. As per his clarification about Rs 2.75 lac, this is not his business income & entry was entered on the basis of proforma invoice & there was no actual sale. This Figure is also confirm from VAT return filed & there was no other receipt in Gross sale in VAT return during that period.He also paid tax on such amount considering in P&L account. Now, can he give reply by deducting such amount from other receipt & file return with revised figure of sale & claim refund of tax paid. Thanks in advance....
04 September 2018
First try to file the response in pursuance to notice for defective return. Mention these facts and file online response. Once you receive the order from them , then file the revised return in case they don’t accept your submission.
CAclubindia
