Question And Answer
Subject: Tax on Updated Return
Querist: CA Adarsh Singh
Answered by:
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Date: March 7, 2024
Query asked by CA Adarsh Singh

ITR could not be filed for Ay 2023-24 u/s 139(1) or (4) But self assessment tax was deposited fully in September 2023. Now assessee is filing  ITR-U . My queries is:-

  1. ITR utility not accepting challan deposited under self assessment tax in Schedule Part B-ATI saying that ‘challan should not be prior to 01.01.2024’. If we are showing this challan in Schedule IT then additional tax liability is not generating. My question is that in ITR-U will we get credit of this challan deposited u/s 140A, if we fill in schedule IT ?
  2. If demand is raised in processing, can the challans deposited u/s 140A in self assessment tax be used against such demand.
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Answer given by

The assessee may write to the CBDT for clarification . According to us the asseesseee should get the credit for the self assessment tax paid . In case the credit is not given the assessee may have to file writ before the High Court . In Balmukund Acharya v. Dy. CIT ( 2009) 310 ITR 310 (Bom.)(HC) (318) the Court held that ,
“If any assessee, under a mistake, misconceptions or on not being properly instructed is over-assessed, the authorities under the Act are required to assist him and ensure that only legitimate taxes due are collected”.

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