filing of revised return
pkpworld..
(Querist) 04 November 2009
This query is : Resolved
A person filed a return of income u/s 139(1) for AY 2008-09 on 30/07/2008. After one month he had discover that he had committed a mistake in respect of income particulars then he had filed a revised income u/s 139(5), modifing the income, on 31/08/2008. Then he again discovered that he had committed a mistake in qouting the bank account number. Then he had filed 2nd revised return u/s 139(5) on 30/9/2008 quoting correct bank account. Like this he had filed twelve revised returns within 31/03/2009. The last revised return was filed on 31/03/2009. Till date the Income tax department had not processed all returns filed by the assessee. The assessee had to get a refund of Rs.12000/-.
My query is that whether all the returns filed by the assessee are valid or not?
Whether the assessee was penalised for filing 13 returns (one original plus twelve revised returns)for one assessment year?
What will be the consequences?
A V Vishal
(Expert) 04 November 2009
Is it true or a guess and did you file this return?
pkpworld..
(Querist) 04 November 2009
I want to know what is the legal obligation in the instant case.
A V Vishal
(Expert) 04 November 2009
Please don't pose hypothetical questions
Raj Kumar Makkad
(Expert) 05 November 2009
It is not possible as narrated in the quarry. Hypothetical questions have no legal answers
adv. rajeev ( rajoo )
(Expert) 05 November 2009
I think you understood the answers given by the vishal and raj.
pkpworld..
(Querist) 05 November 2009
It is not hypothetical. That person had come to me for solution about the mistake committed on the original return. I had persuaded to him to file revise return within one year from end of the FY in which return was filed or completion of assessent, whichever is earlier. That fellow had filed such revised returns. I think all the returns are valid(because there is no mention about number of revised return u/s 139(5}. I just wanted to confirm whether my view is correct or not? Thats all
Raj Kumar Makkad
(Expert) 05 November 2009
If it is true then definitely he shall have to get those clubbed if any enquiry is made in his matter but as the returns have been filed within one financial year so their validity is unquestionable.
A V Vishal
(Expert) 05 November 2009
An assessee who is required to file a return of income is entitled to revise the return of income originally filed by him to make such amendments, additions or changes as may be found necessary by him. Such a revised return may be filed by the assessee at any time before the assessment is made. There is no limit under the income tax Act in respect of the number of time for which the return of income may be revised by the assessee. However, if a person deliberately files a false return he will be liable to be imprisoned under section 277 and the offence will not be condoned by filing a revised return.
Where the return relates to assessment year 1988-89 or any earlier assessment year, the period of limitation is two years from the end of the relevant assessment year.
Vineet
(Expert) 05 November 2009
The returns are valid but certainly, the person may find it really difficult to justify the genuineness of mistakes each time. Further, it may complicate the refund process as the Department will either refund or raise demand each time and make a DCR entry.
Please advise your friend to be cautious while filing an important document like return of income.
