Sec 264 vs 119(2)(b)

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SHIRISH S S

Proprietor

1080 Points Joined May 2017

Went yesterday to my Jurisdictional AO and discuss following

1) Unclaimed TDS of Rs 95k carried from AY 2008-09 & AY 2009-10 to AY 2010-11

2) Chapter VI L&T bonds (u/s 80CCF) not claimed in AY 2012-13

3) TDs of 3k came after 143(1) was issued for AY 2014-15

AO said no new entries in return can be done at his end and you have to apply to CIT u/s 264

He said all three refunds are possible.

I asked him again if application u/s 264 is correct or 119(2)(b) .

According to him 119(2)(b) is for refund claims not for revised return. He was about to give me a big Income tax act book to read. i said i will find out from net.

Suddenly he got up and took me to CIT (I) . He tapped on cabin door and pushed it. The door was closed from inside. Some urgent hearing was going on.

We came back to his cabin. He told to meet CIT and apply under section 264.

I came back and saw income tax log in - efile u/s 119(2)(b)/92 is there and 139(9) is there.

How to apply for revised return u/s 264 or whether AO was wrong about section?

Replies (7)

SHIRISH S S

Proprietor

1080 Points Joined May 2017

Rectification of AY 2008-09 and AY 2009-10 will be done at his end. Only tax credit mismatch and any other Arithmetaic mistakes apparent from record can be corrected - he said.

Kiran. S

CTO

745 Points Joined August 2015

AO has not wrongly given any judgment. You have missed certain benefits (TDS , Chapter VI benefits) in your original Returrn. You are not disputing AO's initial order.

The taxpayer can approach the CIT for revision under section 264 in

respect of any order passed by AO which you feel is incorrect.

For revised return 119(2)(b) is only applicable after one year after assesment year is complete (2 years after FY is complete) . If one year has not passed then one can file u/s 139(5) even though 143(1) is issued.

SHIRISH S S

Proprietor

1080 Points Joined May 2017

1) Did not apply for rectification

2) Rectified online. Rectification rejected and passed rectification rights to jurisdiction AO for rectitication. AO says he does not have powers to rectify and told to apply to CIT u/s 264.

3) Rectified three times and got three times same order - no refund no demand.