TaxTMI 
TaxTMI 
Wheather revised computation can be submitted during the proceeding u/s 143(2)? related to AY 2007-08 If yes pl specify the related provision/rules/clarifications/ circulars/ cases laws if any
Revised computation
12 Nov 2009 
2 Replies 
6107 Views Asked by
Revised computation during assessment proceedings can be submitted if supported by records, though AO may treat increases as escaped income.
Whether a revised computation may be submitted during assessment proceedings under Section 143(2) depends on competing authorities: one view requires a valid return or revised return to make additional claims before the AO, while another permits the AO to entertain additional claims if they are borne out of the records. Taxpayers should present claims in the computation or a covering letter; the AO may accept them but may treat any enhancement as escaped income, and an appellate authority may consider the claim if material was before the AO. (AI Summary)
Whether a revised computation may be submitted during assessment proceedings under Section 143(2) depends on competing authorities: one view requires a valid return or revised return to make additional claims before the AO, while another permits the AO to entertain additional claims if they are borne out of the records. Taxpayers should present claims in the computation or a covering letter; the AO may accept them but may treat any enhancement as escaped income, and an appellate authority may consider the claim if material was before the AO. (AI Summary)