demand as per computation sheet but order shows income assessed at nil

[rahul saxena]

While reassessment under 147 AO passed order at nil income in case of a society registered under Sec 12A.Original assessment under 143(3) was also on nil income.However now the order passed at nil income contains a computation sheet with demand in crores of rupees due to the fact that accumulation under Sec 11(2) was not fed in that sheet though it was originally allowed in original return and there was no point in current reassessment hence no question of disallowance.

Now problem is there is no option of filing 154 online in case of returns assessed after 2020-21 in the portal and also when order is for nil income then how should rectification be made and is it really required as the primary thing is order only.

AI Summary

Reassessment Order Under Section 147 Shows Nil Income, Yet Demands Large Sum Due to Section 11(2) Omission. A discussion on a tax forum addresses an issue where a reassessment order under Section 147 for a society registered under Section 12A shows nil income, yet includes a computation sheet demanding a large sum due to an omission related to Section 11(2) accumulation. The original assessment also reported nil income. The problem arises as there is no option to file rectification online for returns assessed after 2020-21. A respondent suggests that since the order is nil, no demand can be made, but filing a rectification with the jurisdictional Assessing Officer is advisable for caution.