Dear Frnds,
I have one problem relating to income tax provisions. Please help me and submit your opinion as soon as possible .
One of clinet filled his income tax return for the A.Y. 2008-09 after the due date i.e. 01.08.2008. Assessee was an agriculturist and there was delay of one day in filling the ITR. Client sold in the previous year a part of his agricultural land and utlilsed that amount for purchasing the agricultural land, but client paid tax of Rs. 14 lakh without knowing the income tax provisions. Later on client come to know that he can claim the exemption u/s 54B, and filled the revised ITR as on 08.08.2008. Afterwards this case was taken up for scrutiny., and notice u/s 142 (1) is also send to the client. Client in persuance to the notice under the same section filled the revised return and caliming the refund of tax amount.
Client come to us on a later stage. And at this stage he can go to the CIT (appeal) can you suggest me the better answer along with the relevant case law so that i can help the client in getting his refund.Is there anmy relief in the income tax provisions.
CAclubindia
