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An updated return cannot be filed for a year in which assessment or reassessment proceedings are pending or completed. Once a Sec 144 proceeding is open for that year, ITR-U is not available for it.
ITR
Filing an updated return during Section 144 proceedings
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Provisions
Sec 139(8A), Income-tax Act 1961 (now Sec 263(6)); Sec 144, Income-tax Act 1961 (now Sec 271)
Analysis
Your remedy is a full, honest reply in the proceeding itself, showing the correct income and tax. You can offer the correct income in the reply and pay the tax on it to limit interest. Other years without proceedings may still allow ITR-U, which can reduce future risk.
Close
- Do not try ITR-U for the year under proceedings.
- Compute correct income for that year.
- Offer it in your reply with proofs.
- Consider paying the tax you accept.
- Review other years for ITR-U eligibility.
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