TMI BlogRevised ReturnX X X X Extracts X X X X X X X X Extracts X X X X ..... Sir i was filled original returnfor A.Y 2011-2012 on dated 20-06-2011. can I filled revised return for A.Y 2011-2012 - Reply By rishi mohan - The Reply = Revised Return of Income Tax can be filed by an assessee any time before the expiry of 1 year from the end of the Relevant Assessment Year or before the completion of assessment (whichever is earlier) For example: If a Return of Income is fil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the assessee for the Financial Year 2010-11 i.e. Assessment Year 2011-12 on 20th June 2011 (before the due date of filing of Income Tax Return i.e. 31st July 2011), and he later discovers some mistake, he can file a Revised Return of Income Tax anytime up to 31st March 2013 or before the completion of Assessment whichever is earlier. There is no restriction on the no. of times a return can ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... be revised and it can be revised any no. of times provided it is within the prescribed time limits. Thus, in the above case, the Revision can be applied for any number of times provided it is filed before 31st March 2013 or before the completion of assessment. - Reply By CS RAHUL AGARWAL - The Reply = Sir, An assessment is deemed to be completed when assessment order is passed as per my unde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rstanding. Is there something more to it ? Also where a notice u/s 143(2) is received by an assessee, can he still revise the return ? Receiving notice or initiating assessment proceeding, cannot be construed as completion of assessment i belive. Please correct my understanding. - Reply By CS RAHUL AGARWAL - The Reply = An assessment is deemed to be completed when assessment order is passe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d u/s 143 as per my understanding. Also where a notice for furnishing documents record is received or notice for initiating assessment proceeding, it cannot be construed as completion of assessment i believe . Then why cannot it be revised in terms of 139 (5) ?? Till the AO pass the order of assessment u/s 143 , assessee reserves the right to revise return on account of any omission or ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mistake. Notice u/s 143(2) is merely a notice of assessment proceeding being initiated by the department (BUT ASSESSMENT NOT YET COMPLETE). Where an assessee do not comply/respond/furnish notice u/s 143(2) , then AO will assess the liablity by making assessment order as ex-parte/best judgement. That implies, assessment is bout to be done and order for the same is passed only after res ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ponse/furnishing details by the assessee. So, when the order of assessment is not made then as per S. 139(5) why cannot assessee revise his return? I believe that during the process of initiating assessment, the assessee can revise the return and furnish a letter to the concerned AO for taking into account revise return for the purpose of assessment. Others expert view and guidance is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... always welcomed. - Revised Return - Query Started By: - AMIT JAIN, Advocate Dated:- 29-10-2012 Income Tax - Got 3 Replies - Income Tax - Discussion Forum - Knowledge Sharing, reply post by an expert, personal opinion Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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