https://www.taxtmi.com/forum/issue?id=118668 Where information on foreign assets is received through exchange mechanisms a taxpayer may be summoned; if no taxable income arose a factual reply can close the matter. Filing ITR-U is appropriate only when additional tax is payable; if there is no tax implication ITR-U is not available. Revision of a return may be possible only before issuance of the statutory intimation, and the scope of rectification to add foreign-asset schedules where tax remains zero is uncertain. en-us Mon, 31 Jul 2023 08:31:13 +0530 Thu, 23 Jan 2025 14:23:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=118668 Where information on foreign assets is received through exchange mechanisms a taxpayer may be summoned; if no taxable income arose a factual reply can close the matter. Filing ITR-U is appropriate only when additional tax is payable; if there is no tax implication ITR-U is not available. Revision of a return may be possible only before issuance of the statutory intimation, and the scope of rectification to add foreign-asset schedules where tax remains zero is uncertain. Discussion-Forum Income Tax Mon, 31 Jul 2023 08:31:13 +0530 https://www.taxtmi.com/forum/issue?id=118668