Dear All,
I am an accountant of a parternership firm and we have received one email from intimations... @ cpc.com showing a demand for A.Y. 2013-2014. Please note that we have NIL turnover for the said A.Y. Now while Efiling the ITR the depreciation amount is once credited from the total expenses and the same amount is erroneuosly reflected in the profit / gain field on which the tax demand has been raised. I met the A.O. and asked him to rectify the same from their end but to no avail. Now, the case has become time barred for both revise return and filing for appeal. Kindly give your guidance as the tax amount is Rs. 39,000/- which is susbtantial for a small partnership firm.
P.S. : We have brought forward losses.
Thanks.
CAclubindia
