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Return Filing Mistake Can Be Rectified If U/s 143(1) Intimation Not Served: ITAT Mumbai
Case Law Details
- Case Name
- Krishnaping Alloys Ltd. Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2006-07
- Courts
- All ITAT, ITAT Mumbai
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Krishnaping Alloys Ltd. Vs ACIT (ITAT Mumbai)
Rectification for Return-Filing Mistake Revived; Mere Dispatch Entry Not Proof of 143(1) Service
The assessee’s return for AY 2006-07 correctly showed profit before tax of about ₹22 lakh, but due to an accountant’s error the gross sales figure of about ₹5.05 crore was mistakenly entered in the “income from business” column in the computation, inflating the total income to about ₹5.08 crore. The return was processed under section 143(1) on the basis of this erroneous figure, creating a huge demand of about ₹2 crore.
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