Revised Return can be filed even after intimation u/s 143(1) is issued since the same is not considered as an assessment order in the court law though referred to as summary assessment. Since even after the issuance of intimation u/s 143(1), regular/scrutiny assessment can be done without any restriction. There is a case law of Gujarat High court in which the court held that the assessee can file revised return even after intimation is served . S. R. Koshti v. Commissioner of Income-tax [2005] 276 ITR 165 (Guj). The issue is settled to rest by the decision of Supreme Court in the case of ACIT vs Rajesh Javeri Stock Brokers (P) Ltd. 291 ITR 500 in which it was held that intimation although deem to the notice of demand U/s. 156 can not taken as assessment order. Revised return can be filed after intimation u/s 143(1)(a)-AO must amend such intimation on the basis of revised return-Gujarat HC [2011] 333 ITR 0508 Commissioner of Income-tax Versus Himgiri Foods Limited

Pan Correction in TDS return beyond 4 characters comprising two alpha and two numeric characters is not currently allowed by CPC. Invalid PAN is treated as no PAN and demand of TDS u/s 206AA @ 20% is raised against assessee deductors invariably by CPC. Such conduct of CPC is against the natural justice because this harsh processing is not only affecting the deductor but also deductee as a deductee is not being allowed full credit on revision of returns. However, Held by ITAT Ahemdabad in ONGC Ltd 65taxmann.com 2 [23-11-2015] that as per scheme of TDS correction there is no such restriction imposed and any correction can be made by way of deleting the entry, adding of a deductee, change in details mentioned about the deductee including his PAN, adding of TDS challans etc. meaning thereby that deductor can rectify any kind of mistake which has been inadvertently made by it at the time of filing original return and also this correction statement can also be filed for multiple times. Further ITAT held that assessee be allowed opportunity to provide relevant details of deductees as envisaged under proviso to Section 201(1A) i.e. proof of furnishing of return under section 139 of the Act, proof of taking into account such sum for computing income in such return of income of the deductee, proof of tax paid by the deductee and certificate from the Chartered Accountant to this effect that the sum on which deductor was required to deduct TDS has duly been considered in the books of account for computing income of the deductee

SC in Goetze India had held that although AO can not accept the claim of the assessee except through return or revised return but in the same decision, the hon'ble apex court made it clear that this did not impinge on the power of the Tribunal. The above position of law revisited by ITAT Delhi in Micron Instruments[2015] 63 taxmann.com 180 (Del Trib) and claim of CLU charges paid along with interest in instalment by factory already working for last 30 years allowed as revenue expenditure although claim made only by simple letter during assessment

assessee sold immovable property resulting in capital loss - On basis of valuation made by sub-registrar, Assessing Officer issued notice to assessee for adoption of higher sale value of property - In response to said notice, assessee submitted revised computation of income showing increased selling price to assessee - Assessing Officer accepted said valuation and completed assessment - Subsequently, he initiated re-assessment proceeding on ground that certain long-term capital gain arising out from sale of property escaped assessment - Whether mere fact that in response to notice issued by Assessing Officer, assessee had filed revised computation of income, not revised return of income, therefore it could not be ground to reopen assessment - Held, yes - Whether, moreover, assessee had disclosed all relevant facts at time of assessment, initiation of re-assessment proceedings after expiry of 4 years, from relevant year, merely on basis of change of opinion was not sustainable

Chandrakant Keshavram Singapuri [2015] 60 taxmann.com 136 (Gujarat) MARCH  11, 2015 

Cancellation of sales of immovable property held as stock in trade entitles assessee to revise return under section 139(5)

[2012] 27 taxmann.com 15 (Mumbai - Trib.)

IN THE ITAT MUMBAI BENCH 'A'

Lok Housing and Constructions Ltd.

v.

Assistant Commissioner of Income-tax-8(3)(OSD)