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Assessment U/S 143(1)

Vineet Sharma (Astt. Manager) (56 Points)

09 March 2010

There is a assessment U/S 143(1) for the return filed for the A.Y 2008-09(i.e.Financial year 2007-08).There was a mistake in filling the return.

Can revised return be filled?

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9 Replies

megha (Working ) (71 Points)
Replied 09 March 2010

No it cannot be revised.. as per sec 139(5) If any person, having furnished a return under sub-section (1) of sec 139 , or in pursuance of a notice issued under sub-section (1) of section 142, discovers any omission or any wrong statement therein, he may furnish a revised return at any time before the expiry of one year from the end of the relevant assessment year or before the completion of the assessment, whichever is earlier.

In your case, as the assessment has already been done , so the return cannot be revised.

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Rajat Singhal CA,CS,CFA (Senior Manager (F&A)) (254 Points)
Replied 09 March 2010

Megha is correct if the assesment is completed, but if assesment is yet not completed then the reviesd return can be filed upto 31st march 2010, i.e. before the end of one year from the relevent assesment year as per section 139(5).

So, Vineet if the assesment is not yet completed file the revised return befor 31st march.

Regards

Rajat

Vineet Sharma (Astt. Manager) (56 Points)
Replied 09 March 2010

As per Meaning of Assessment " Assessment refers to the assessment made under section 143(3) or 144. An intimation served to the assessee under section 143(1) will not constitute an "Assessment".

Consequently,if an assesse files a revisedb return after the service of an intimation U/S 143(1) but before the time given, it will be duly considered by the assessing officer.S.R.Koshti v. CIT 2005

Navin Kr. Singh (Executive) (25 Points)
Replied 09 March 2010

Yes, I m agree with u Vineet,

As per the case of S.R. Koshti v. CIT {2005} and CIT v. Rajesh Jhaveri Stock Brokers (P.) Ltd. {2007}

an intmation under section 143(1) can not be considered as assessment.

Puneet Mittal (Sr. Officer Accounts) (212 Points)
Replied 09 March 2010

Mr Vineet,

Assessment U/S 143(1) is not an assessment. It is only an intimation to assessee.So you can file revised return if time limit of revised return has not expire.

As per sec 139(5) you can file a revised return upto one year from the end of relevent assessment year in which return is filled i.e 31 march,2010 or before the completion of assessment whichever is earlier.

Asessment means assessment u/s 143(3), 144.

Regards

Puneet Mittal

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C.Balaji (Learner) (1867 Points)
Replied 09 March 2010

Good reply by Mr. Vineet Sharma.........

Agree with him........

Intimation under Section 143(1) is not an assessment - you can file revised return before the expiry of time limit......Asessment means Assessment u/s 143(3) / 144.........

Revised return can be filed upto one year from the end of relevent assessment year.....for A.Y.08-09 - 31 march,2010 or before the completion of assessment whichever is earlier.

Sharad Suman Das (art) (141 Points)
Replied 09 March 2010

totally agreed with Veneet

intimation U/S 143(1) is not an assessement and as such revised return can be filed within prescribed time limit.

manish (Article Assitant) (358 Points)
Replied 10 March 2010

in my opinion intimation of assessement may also a part of assessment so assessee cannot revised it after then

(Guest)

It seems you have revised notice u/s 143(1) and assessment is not completed. If it is so, you have the liberty to file revised return until the assessment proceedings are completed.