Based on income tax case laws, the answer to aforesaid question is definitely yes rpovided there is time for filing revised return as provided in section 139(5) of the I T Act. Let us see what is the provision for filing revised return i.e section 139(5) . 139(5) If any person, having furnished a return under sub-section (1),...
Can revised return u/s.139(5) be filed even after notice for scrutiny u/s 143(2) is served?
May 15, 2010 by
Can processing u/s143(1) be done after service of notice u/s.143(2) ?
May 15, 2010 by
No, as explained by Supreme Court in Commissioner of Income-tax v. Gujarat Electricity Board [2003] (260 ITR 84 (SC) that notice of regular assessment under section 143(2)(ii) can be issued even after the summary assessment u/s.143(1) , however once notice for regular assessment u/s143(2)(ii) is issued summary assessment u/s143(1) cannot be made . Here is excerpt...
Can A.O pass rectification order u/s 154 even after time limit?
May 12, 2010 by
Income tax Act provides ways to rectify any error which comes to light . This right is provided to both-assessee and the A.O . There is also time limits for such rectification . I T Act provides that an assessee can move an application for rectification of an order within 4 years from the end of financial year in...
What An A.O Can Not Do in Scrutiny Proceedings?
March 25, 2010 by
I am a salaried employee. My case was selected for scruitiny for the Asst year 2008-09. During the course of assessment the AO has asked for the income tax returns and Bank statements of my husband for the Asst year 2003-04. Am I required to furnish the same?. Further the case was being handled by
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