Who cannot file updated return?

economictimes.indiatimes.com:

updated return was introduced in Budget 2022. The Income Tax Act, 1961, introduced Section 139(8) to allow taxpayers to file an updated return within specified timelines. The updated return pushes a taxpayer for voluntary compliance. A taxpayer can file an updated return even if he has filed ITR (original, belated or revised) or has not filed ITR for a particular year. However, there are certain situations when an individual is not allowed to file an updated return.Cases when an updated return cannot be filed In the following situations, a taxpayer cannot file an updated return: (i) An updated return being a return of loss

What is updated return and how to file it

(ii) An updated return which leads to decrease in the total tax liability vis-à-vis original ITR (iii) An updated return which results in a refund or increase in the amount of refund vis-a-vis original ITR (iv) If updated return is filed to claim tax refund when original ITR has not been filed Thus, it may be noted that where a taxpayer has not filed the original return then the option of filing an updated return will not be available if such return is sought to be filed to claim a refund. However, if a person has sustained a loss for any previous year and he has already submitted a return of loss for that year within the due date as per section 139(1), he can furnish an updated return for that year where the updated return is a return of income as a result of which tax is being paid. Further, if as a result of furnishing an updated return of income of a previous year (earlier a return of loss), if any loss carried forward under Chapter VI of Income Tax Act or unabsorbed depreciation carried forward or AMT / MAT credit carried forward is to