Revised return adjustments trigger amended intimations and deemed demand notices, with refunds or tax liabilities adjusted accordingly. A new sub section requires amended intimations and refund adjustments when an assessee furnishes a revised return after an intimation or refund: increases in tax or interest already paid generate an amended intimation treated as a notice of demand; reductions result in refunds. Previously granted refunds are similarly adjusted, with enhanced refunds paid only to the excess and reduced refunds deemed tax payable with an intimation treated as a notice of demand. The amendment also confirms liability for additional gift tax where a revised return is filed after service of an intimation, and substitutes filing time wording in a related proviso.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Revised return adjustments trigger amended intimations and deemed demand notices, with refunds or tax liabilities adjusted accordingly.
A new sub section requires amended intimations and refund adjustments when an assessee furnishes a revised return after an intimation or refund: increases in tax or interest already paid generate an amended intimation treated as a notice of demand; reductions result in refunds. Previously granted refunds are similarly adjusted, with enhanced refunds paid only to the excess and reduced refunds deemed tax payable with an intimation treated as a notice of demand. The amendment also confirms liability for additional gift tax where a revised return is filed after service of an intimation, and substitutes filing time wording in a related proviso.
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