revision of return

CA Rakesh Somashekara (...) (45 Points)

13 March 2018  
I filed itr 4 for one of my friend for AY 2016-17 in February 2018 by showing income of 2.5 lacs and I received intimation u/s 143(1) on 11th March. I want to revise the return now and want to declare income of rs. 3.5 lac by paying tax amount for a bank loan purpose. 

Is it possible to revise and pay tax for AY 2016-17