| Question And Answer | |
|---|---|
| Subject: | Invalid IDS- declaration and assessment u/sec.143(3) r.w.s 147 of the Act. |
| Category: | Income-Tax |
| Querist: | Prakash Kulkarni |
| Answered by: | Advocate Shashi Ashok Bekal |
| Tags: | ids, IDS declaration, Re assessment, Reassessment |
| Date: | August 9, 2022 |
Assessee firm has made declaration under IDS for A.Y.2015-16 amounting to Rs. 3.30 cr. and has paid the installment of tax due on 30.11.2016, 30.03.2017 and 30.09.2017 , however due to mistake of CA , there was shortfall of Rs. 1313000/-, which he has paid on 3.10.2017.
The assessee thought he had made the compliance of IDS. since the all the mail id of CA was given , assessee was not aware of the shortfall and proceedings completed by the AO U/Sec.147 r.w.s.144 r.w.s 144B on 22.03.22 , where in AO has taxed the entire amount disclosed under IDS amounting to Rs. 3.30 cr in the A.Y. 2017-18 and raised the demand of Rs. 4.08 cr. No credit for taxes paid has been given. assessee come to know this when the demand notice came to him on his mail
whether AO is correct in taxing the amount disclosed in IDS for A.Y. 2015-16 in A.Y.2017-18
Whether not giving the credit of taxes paid under IDS is justified
pl guide the correct action to be taken in this regards,
The Action of the Ld. AO is not correct. Similar matters are pending before the Hon’ble Bombay High Court. The decision will have a bearing on the assessee.
Supreme court did extend the time limit in a case with interest payment.
143(2) rws147 after filing the return. in 143(2)notice another ITR date is mentioned that was filed for another notice. isnst it invalid ?