Revised return after 143 ( 1 ) intimation

[shyamal roychowdhury]

My Client a partnership firm filed return for ay 2006-07 in time with claim of refund . The refund was received u/s 143(1) also . The assessee finds that he has not claimed many TDS AS the certificates received late . . Now he wants to claim the TDS WITH THE CERTIFICATES RECEIVED BY FILLING REVISED RETURN . nOW THE COFUSION IS IT IS OPINION THAT NO REVISED RETURN CAN BE FILED AFTER THE 143 ( 1 ) INTIMATION . PL ADVICE IF THIS IS CORRECT ? Amount involved is more than 50000/- . The refund & order was received almost 7 months ago . If no revised return can be given , how the TDS CAN BE RECOVERED . We heard that recently some appellate authority has opined that TDS IF DEDUCTED , THE REVENUE AUTHORITY SHOULD ALLOW CREDIT WHEN INCOME TO THAT HAS BEEN SHOWN IN THE ACCOUNT . WE WILL BE OBILIZED FOR AN OPINION & ROUTE TO RECOVER THE . S.ROYCHOWDHURY

AI Summary

Partnership Firm Seeks Refund for Unclaimed TDS After Timely Tax Return; Faces Deadline Issues Under Section 143(1). A partnership firm filed a timely tax return for the assessment year 2006-07 and received a refund under Section 143(1). However, they later realized that several TDS certificates were not claimed due to late receipt. They are unsure if a revised return can be filed after receiving the intimation under Section 143(1), especially since more than seven months have passed. The amount involved exceeds 50,000. An expert advised that a revised return cannot be filed after March 31, 2008, but suggested applying for a refund with a request to condone the delay due to late receipt of TDS certificates.