Period of Limitation u/s 143(2) shall be computed from date of original return and from defect removal date
Processing of ITR Filed electronically with refund claim under section 143(1) beyond the prescribed limit in non- Scrutiny cases
Direct Taxation Period of Limitation u/s 143(2) shall be computed from date of original return and from defect removal date The Assessee filed the Income Tax return on 28.07.2017. Notice for defective return was issued to the Assessee on 06.07.2018 and such defect was rectified on 19.08.2018. Therefore, the return got processed under Section 143(1)(a) of Income Tax Act and corresponding refund was also issued. Later, notice was issued under section 143(2) of the act on 22nd September, 2019. The Assessee challenged the validity of Assessment framed under Section 143(2) contended that notice was issued beyond period of limitation. The Assessee contended that The limitation for issuance of notice u/s 143(2) of the Act was not to be determined from the date/end of the financial year in which the defect was rectified. Rather the same should be determined from the date/end of financial year when the original return of income was filed. Read More » 13/05/2024 No Comments
Direct Taxation Processing of ITR Filed electronically with refund claim under section 143(1) beyond the prescribed limit in non- Scrutiny cases After filing of Income tax return, processing of Income tax return under section 143(1) is the first step wherein return is electronically processed by the Department system and action is taken as per the prima facie validations such as TDS is granted as per information available in Form 26AS irrespective of amount claimed in ITR, computation of interest etc. Refund claimed in Income tax return is processed only after processing under Section 143(1) of Income Tax Act. Read More » 19/12/2023 No Comments
Goods and Service Tax Extension of due dates of Income Tax Return, Tax Audit and GST Annual Return Vide press release dated 24th October, 2020, CBIC has extended the due date of filing of GST Annual return (GSTR-9/GSTR-9A) and Reconciliation Statement (GSTR-9C) for FY 2018-19 from 31st October, 2019 to 31st December, 2019. Read More » 26/10/2020 No Comments
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