Assessee did not revise the return but during the assessment produced revised computation showing enhancement in expenses

Assessee did not revise the return but during the assessment produced revised computation showing enhancement in expenses - Power of the AO to revised computation https://www.taxtmi.com/news?id=608 Acceptance of a revised computation of income supplied during assessment is not automatically erroneous in absence of a formally filed revised return, but the Assessing Officer cannot accept a revised computation if it is submitted after the statutory time limit for filing a revised return; timing under the revision window therefore limits the AO's power to treat late computations as effective substitutes for a formal revised return. en-us Tue, 07 Oct 2008 23:45:45 +0530 Tue, 07 Oct 2008 23:45:45 +0530 TaxTMI RSS Generator Assessee did not revise the return but during the assessment produced revised computation showing enhancement in expenses - Power of the AO to revised computation https://www.taxtmi.com/news?id=608 Acceptance of a revised computation of income supplied during assessment is not automatically erroneous in absence of a formally filed revised return, but the Assessing Officer cannot accept a revised computation if it is submitted after the statutory time limit for filing a revised return; timing under the revision window therefore limits the AO's power to treat late computations as effective substitutes for a formal revised return. News - Tue, 07 Oct 2008 23:45:45 +0530 https://www.taxtmi.com/news?id=608