Filing Return By Due Date U/s 139 Is Mandatory For Political Party To Claim Exemption U/s 13A: Delhi ITAT Refuses To Stay Recovery Against Congress Party
1 year ago

Filing Return By Due Date U/s 139 Is Mandatory For Political Party To Claim Exemption U/s 13A: Delhi ITAT Refuses To Stay Recovery Against Congress Party

Live Law  

While holding the argument that an assessee is entitled to a stay on the recovery proceedings on payment of 20% of the demand during the pendency of appeal before the Tribunal, as too general, the New Delhi ITAT dismisses the stay application of Indian National Congress treating it as meritless. At the same time, on the merits of the matter, the ITAT ruled that compliance with the conditions prescribed in Section 13A regarding furnishing of return by due date as per Section 139 is mandatory for a Political Party in order to be eligible for the claim of exemption u/s 13A of the Income tax Act. This exemption was denied on two grounds, namely: i) that the return of income filed by the assessee on Feb 02, 2019 u/s 139 contravenes the time limit prescribed in the third Proviso to Section 13A; and ii) that clause of the first Proviso to Section 13A was violated since the assessee has received donations of Rs.14,49,000/- in cash from various persons, which was in excess of Rs.2,000/-. The Bench took note of the amendments made in Section 13A by the Finance Act, 2017, and a clarification issued by the CBDT dated 23rd April, 2019 clarifying that the time allowed for filing of return of income as per the newly inserted clause for the trusts was the time allowed to file belated returns under Section 139 of the Act. The “due date” for furnishing a return of income is prescribed in Section 139 read with Explanation thereof, whereas the “time allowed” for furnishing a return of income is prescribed in Section 139 of the Act, which permits filing of the belated returns”, added the Bench.

Recovery Party Income Tribunal Act Bench Political Party Return Stay Exemption Itat Proviso Section 139 Due Date Exemption U 13A Belated Returns Section 13A Proviso To Section 13A  party  bench  refuses  exemption  mandatory  itat  return  stay  political  filing  income  recovery  order  proviso  act  prescribed  13a

History of this topic

IBC | Once Resolution Plan Approved, Dues Not Part Of It Get Extinguished : Supreme Court Rejects Post-Resolution Income Tax Demand
1 week, 1 day ago

IBC | Once Resolution Plan Approved, Dues Not Part Of It Get Extinguished : Supreme Court Rejects Post-Resolution Income Tax Demand

Live Law  

The Supreme Court today declined a claim raised by the Income Tax Department to include a tax demand in a Resolution Plan after it was approved by the Adjudicating Authority under the Insolvency and Bankruptcy Code, 2016.Citing the case of Ghanashyam Mishra and Sons Pvt. Ltd. v. Edelweiss Asset Reconstruction Company Ltd. 9 SCC 657, which held that all claims …

S.153C Income Tax Act | Two-Tier Satisfaction Of Assessing Officers Of Both Searched & Non-Searched Entity Needed Even Prior To 2015 Amendment: Delhi HC
4 weeks ago

S.153C Income Tax Act | Two-Tier Satisfaction Of Assessing Officers Of Both Searched & Non-Searched Entity Needed Even Prior To 2015 Amendment: Delhi HC

Live Law  

The Delhi High Court has held that even though Section 153C of the Income Tax Act, 1961 did not in its original form prescribe two-tier satisfaction of Assessing Officers of both the searched and non-searched entity for initiating reassessment, the same cannot be deemed absent. “In our considered opinion, while and undoubtedly Section 153C as it stood at the relevant …

[S.292B Income Tax Act] Inadvertent Mistakes In Reassessment Can Be Saved But Assessment Order Overlooking Apparent Error Cannot: Delhi HC
1 month ago

[S.292B Income Tax Act] Inadvertent Mistakes In Reassessment Can Be Saved But Assessment Order Overlooking Apparent Error Cannot: Delhi HC

Live Law  

The Delhi High Court has made it clear that Section 292B of the Income Tax Act, 1961 cannot be used to save an assessment order passed by overlooking errors apparent on face of the record. A division bench of Chief Justice Devender Kumar Upadhyay and Justice Tushar Rao Gedela said while the provision would save reassessment notice which inadvertently furnished …

Can a tax refund be claimed only before ITR filing due date?
1 month ago

Can a tax refund be claimed only before ITR filing due date?

Live Mint  

I read online that to claim a tax refund under the proposed Income Tax law, the income tax return needs to be filed within the original given due date. -Name withheld on request Under the current Income Tax Act, 1961, an individual is required to file an income tax return under section 139 if his/her income exceeds the basic exemption …

Not An Enabling Provision, Proscribes Reassessment Action Beyond Limitation: Delhi HC Explains Timelines U/S 149 Of Income Tax Act
1 month, 3 weeks ago

Not An Enabling Provision, Proscribes Reassessment Action Beyond Limitation: Delhi HC Explains Timelines U/S 149 Of Income Tax Act

Live Law  

The Delhi High Court has made it clear that Section 149 of the Income Tax Act, which prescribes a limitation period for initiating reassessment against an assessee, is not an enabling provision but rather a proscription on the Assessing Officer's powers. The Court illustrated “If the show cause notice under Section 148A of the Act is issued to an assessee, …

What Is The Time Period Surviving U/S 149 Of Income Tax Act For Issuing Reassessment Notices: Delhi High Court Explains
1 month, 3 weeks ago

What Is The Time Period Surviving U/S 149 Of Income Tax Act For Issuing Reassessment Notices: Delhi High Court Explains

Live Law  

The Delhi High Court has interpreted the Supreme Court's decision in Union of India v. Rajeev Bansal to elucidate the time period surviving under Section 149 of the Income Tax Act, 1961 for issuing reassessment notices. Further, the period between the date of issuance of the impugned reassessment notices up to the date of the decision rendered by the Supreme …

Prescribed Time Limit For Filing Refund Application Cannot Be Disregarded Merely Because Tax Was Collected Without Legal Authority: CESTAT
1 month, 4 weeks ago

Prescribed Time Limit For Filing Refund Application Cannot Be Disregarded Merely Because Tax Was Collected Without Legal Authority: CESTAT

Live Law  

The New Delhi Bench of Customs, Excise, and Service Tax Appellate Tribunal has stated that the prescribed time limit for filing a refund application cannot be disregarded merely because the tax was collected without legal authority. The Bench of Justices Dilip Gupta and P. V. Subba Rao has observed that “the appellant cannot be permitted to claim a refund of …

Tax Weekly Round-Up: January 13 - January 19, 2025
2 months, 1 week ago

Tax Weekly Round-Up: January 13 - January 19, 2025

Live Law  

SUPREME COURT 'Will Pull You Up' : Supreme Court Asks GST Department To Rectify Issues Over Fake Invoices, Asks How Genuine Purchasers Are Liable The Supreme Court on Wednesday flagged a recurring problem in GST matters whereby genuine purchasers who paid Goods and Services Tax face issues because their suppliers raised fictitious bills to evade crediting the GST to the …

If Assessee Produces Accounts, AO Must Be Satisfied That Accommodation Entries Exist Before Proceeding U/S 148 Of Income Tax Act: Delhi HC
Trending News
2 months, 2 weeks ago

If Assessee Produces Accounts, AO Must Be Satisfied That Accommodation Entries Exist Before Proceeding U/S 148 Of Income Tax Act: Delhi HC

Live Law  

The Delhi High Court has held that an Assessing Officer is required to be satisfied that accommodation entries as alleged in show cause notice under Section 148A of the Income Tax Act 1961 exist, particularly where the assessee produces its accounts. Clearly, the AO is required to be satisfied that such entries exists particularly where the petitioner had produced its …

Twin Conditions U/S 127 Of Income Tax Act For Transferring Assessee's Case From One Officer To Another Are Mandatory: Himachal Pradesh HC
2 months, 2 weeks ago

Twin Conditions U/S 127 Of Income Tax Act For Transferring Assessee's Case From One Officer To Another Are Mandatory: Himachal Pradesh HC

Live Law  

The Himachal Pradesh High Court has elucidated the mandatory twin conditions for transfer of an assessee's case under Section 127 of the Income Tax Act, 1961, from one Assessing Officer to another. A division bench of Justices Tarlok Singh Chauhan and Rakesh Kainthla observed, “The twin conditions to be complied with by the respondents for transferring the case of the …

Reassessment U/S 150 Of Income Tax Act Can't Be Initiated On Mere 'Incidental' Findings Of Appellate Authority: Delhi High Court
2 months, 3 weeks ago

Reassessment U/S 150 Of Income Tax Act Can't Be Initiated On Mere 'Incidental' Findings Of Appellate Authority: Delhi High Court

Live Law  

The Delhi High Court has held that Section 150 of the Income Tax Act, 1961 can be invoked for reassessment only to give effect to a 'conclusive finding' by an appellate authority regarding escapement of income by an assessee. Both terms demand a direct and substantive nexus to the matter under adjudication and cannot extend to incidental or ancillary conclusions.” …

Missed income tax section 87A rebate? Here's your chance to claim it for FY 2023-24
Trending News
2 months, 3 weeks ago

Missed income tax section 87A rebate? Here's your chance to claim it for FY 2023-24

India Today  

The Income Tax Department has introduced significant relief for taxpayers eligible for the Section 87A rebate for FY 2023-24 who were previously unable to claim it. Announced late on December 31, 2024, via the ITR e-filing portal, the department confirmed that eligible taxpayers would soon be able to file revised or belated ITRs through the ITR filing utility or online …

Belated Filing Of Form 9A Is Not Attributable To Trust: Bombay HC Allows Exemption U/S 11 After Condoning Delay Under IT Act
3 months ago

Belated Filing Of Form 9A Is Not Attributable To Trust: Bombay HC Allows Exemption U/S 11 After Condoning Delay Under IT Act

Live Law  

The Bombay High Court held that bonafide delay in filing Form 9A on part of trust, has to be construed as procedural lapse and shall be condoned by exercising powers u/s 119 of Income tax Act. The Division Bench of Justice G S Kulkarni and Justice Advait M Sethna observed that that the jurisdictional AO completely lost sight of the …

Recourse To Section 147 Of Income Tax Act Not Barred In Cases Where Assessing Officer Is Empowered To Proceed U/S 153C: Delhi High Court
4 months ago

Recourse To Section 147 Of Income Tax Act Not Barred In Cases Where Assessing Officer Is Empowered To Proceed U/S 153C: Delhi High Court

Live Law  

S.153C Income Tax Act doesn't bar AO's jurisdiction to reopen assessment u/S 147 when information against assessee is received from search conducted on another person: Delhi High CourtThe Delhi High Court has held that Section 153C of the Income Tax Act, 1961 does not by itself preclude an Assessing Officer from reopening assessments under Section 147/148 of the Act, on …

'HC Was Not Right' : Supreme Court Questions Delhi HC For Asking Congress To Approach ITAT To Stay Tax Recovery
7 months, 1 week ago

'HC Was Not Right' : Supreme Court Questions Delhi HC For Asking Congress To Approach ITAT To Stay Tax Recovery

Live Law  

The Supreme Court, today, issued notice on the petition filed by the Indian National Congress against the Delhi High Court rejecting its application for a stay on the recovery of income tax demand for an Assessment Year 2018-2019. The Division Bench of the High Court had refused to re-examine or reconsider the questions decided by the Income Tax Appellate Tribunal …

AO Can't Disregard ITAT's Direction To Re-examine Issue By Referring To CBDT Circular: Delhi High Court
7 months, 3 weeks ago

AO Can't Disregard ITAT's Direction To Re-examine Issue By Referring To CBDT Circular: Delhi High Court

Live Law  

The Delhi High Court has held that the assessing officer cannot disregard the direction of the Income Tax Appellate Tribunal to re-examine the issue by referring to the circular issued by the Central Board of Direct Taxes.The bench of Justice Yashwant Varma and Justice Ravinder Dudeja has observed that since the additional grounds had come to be accepted by the …

Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court
8 months, 3 weeks ago

Order Of ITSC Final And Conclusive For AY For Which Application Has Been Filed: Delhi High Court

Live Law  

The Delhi High Court has held that the order of the Income Tax Settlement Commission is final and conclusive for a particular assessment year for which the application has been filed.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the order of the ITSC is deemed to be conclusive for all the matters pertaining to …

Due Date For Filing Form 10AB Extended By CBDT; Bangalore ITAT Quashes Order Rejecting Section 80G Approval
9 months ago

Due Date For Filing Form 10AB Extended By CBDT; Bangalore ITAT Quashes Order Rejecting Section 80G Approval

Live Law  

The Bangalore Bench of Income Tax Appellate Tribunal has quashed the order rejecting the approval under Section 80G of the Income Tax Act as the Central Board of Direct Taxes has extended the due date for filing Form 10A/10AB via press release dated April 25, 2024, to June 30, 2022.The bench of Beena Pillai and Laxmi Prasad Sahu has. The …

Submission Of Form-67 Is Not Mandatory For Availing Foreign Tax Credit: Delhi ITAT
9 months, 1 week ago

Submission Of Form-67 Is Not Mandatory For Availing Foreign Tax Credit: Delhi ITAT

Live Law  

The Delhi Bench of Income Tax Appellate Tribunal has held that submission of Form-67 is not mandatory for availing foreign tax credit.The bench of Sudhir Pareek and S. Rifaur Rahman has observed that filing Form-67 is a procedural or directory requirement and is not a mandatory requirement. The Delhi Bench of Income Tax Appellate Tribunal has held that submission of …

Unsettled Claims As Well As IBNR Would Amount To Contingent Liabilities; Section 37 Deduction Allowable: Delhi High Court
9 months, 2 weeks ago

Unsettled Claims As Well As IBNR Would Amount To Contingent Liabilities; Section 37 Deduction Allowable: Delhi High Court

Live Law  

The Delhi High Court has held that the deduction under Section 37 of the Income Tax Act is allowable on unsettled claims as well as Incurred But Not Reported, which would amount to contingent liabilities.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that if the historical trend indicates that a large number of sophisticated goods …

Direct Tax Cases Weekly Round-Up: 02 To 08 June 2024
9 months, 2 weeks ago

Direct Tax Cases Weekly Round-Up: 02 To 08 June 2024

Live Law  

Delhi High Court Once Issue Of Arm's Length Remuneration Settled By TPO, Question Of Ascertaining Existence Of PE Is Academic; Delhi High Court Quashes Reassessment Proceedings Case Title: Progress Rail Locomotive Inc. Exemption Allowable On Donations Made By One Charitable Trust To Other Charitable Institutions For Temporary Period: Delhi High Court Case Title: Commissioner Of Income Tax Versus M/S Jamnalal …

Interest Not Leviable From Assessee For Short Payment Of Tax Due To Payer's Default In Deducting TDS Before FY 2012-2013: ITAT
10 months, 3 weeks ago

Interest Not Leviable From Assessee For Short Payment Of Tax Due To Payer's Default In Deducting TDS Before FY 2012-2013: ITAT

Live Law  

The Delhi Bench of Income Tax Appellate Tribunal has held that since the assessee was a non-resident, the entire tax was to be deducted at source on payment made by the payer to it, and there was no question of advance tax payment by the assessee; accordingly, no interest under Section 234B could be levied upon the assessee.The bench of …

I-T Authority Fails To Consider Reason For Difference In Sale Consideration & Stamp Duty: Mumbai ITAT Deletes Penalty Levied U/s 270A For Under-Reporting Of Income
10 months, 3 weeks ago

I-T Authority Fails To Consider Reason For Difference In Sale Consideration & Stamp Duty: Mumbai ITAT Deletes Penalty Levied U/s 270A For Under-Reporting Of Income

Live Law  

Noting that neither the Assessing Officer nor the CIT have taken into consideration the explanation offered by the Assessee during the assessment proceedings in relation to the difference in the sale consideration and the stamp duty valuation of immovable property, the Mumbai ITAT deleted the penalty levied u/s 270A of the Income tax Act for under-reporting of income. Accordingly, the …

[Income Tax Act] Supreme Court Decision In UOI v. Ashish Agarwal Applicable To Parties Who Challenged Notice U/S 148: Allahabad High Court
11 months, 1 week ago

[Income Tax Act] Supreme Court Decision In UOI v. Ashish Agarwal Applicable To Parties Who Challenged Notice U/S 148: Allahabad High Court

Live Law  

The Allahabad High Court has held that Supreme Court in Union of India v. Ashish Agarwal had not issued a general mandamus quashing all notices issued under Section 148 of the Income Tax Act, 1961. In Union of India v. Ashish Agarwal, the Union Government had challenged the order of the Allahabad High Court quashing the reassessment notices issued by …

Failure Of Dept. To Comply With ITAT's Order: Delhi High Court Directs Dept. To Remove Demands, Penalty From ITBA portal
11 months, 1 week ago

Failure Of Dept. To Comply With ITAT's Order: Delhi High Court Directs Dept. To Remove Demands, Penalty From ITBA portal

Live Law  

The Delhi High Court has held that the Department has failed to comply with Income Tax Appellate Tribunal's Order in passing a fresh assessment order within the stipulated time.The bench of Justice Yashwant Varma and Justice Purushaindra Kumar Kaurav has observed that the underlying rationale of the Legislature behind the enactment of Section 153 of the Income Tax Act and …

ITAT Cases Weekly Round-Up: 31 March To 6 April 2024
11 months, 2 weeks ago

ITAT Cases Weekly Round-Up: 31 March To 6 April 2024

Live Law  

Case Title: Zila Parisad verses Addl. Case Title: Kishorkumar Bhalara verses The Principal Commissioner of Income Tax On finding that the PCIT has held the assessment order passed by AO as erroneous and prejudicial to the interest of the Revenue simply based on incorrect assumption of facts, the Rajkot ITAT directed to set aside the order passed u/s 263 of …

ITAT Cases Monthly Round-Up: March 2024
11 months, 3 weeks ago

ITAT Cases Monthly Round-Up: March 2024

Live Law  

Filing Return By Due Date U/s 139 Is Mandatory For Political Party To Claim Exemption U/s 13A: Delhi ITAT Refuses To Stay Recovery Against Congress Party Case Title: Indian National Congress Verses Deputy Commissioner of Income Tax While holding the argument that an assessee is entitled to a stay on the recovery proceedings on payment of 20% of the demand …

No Addition U/S 69 Is Permitted Without Examining & Finding Fault In Cash Book Produced By Taxpayer: Delhi ITAT
11 months, 3 weeks ago

No Addition U/S 69 Is Permitted Without Examining & Finding Fault In Cash Book Produced By Taxpayer: Delhi ITAT

Live Law  

On finding that the CIT has failed to examine the cash book presented by the assessee, the New Delhi ITAT deleted the addition sustained by CIT u/s 69 of the Income Tax Act. The Bench of the ITAT comprising of Yogesh Kumar U.S. and N. K. Billaiya observed that “The assessee having been produced the cash book and explained the …

Taxpayer Must Substantiate Form 26AS Or Form 16 So As To Claim Credit Over TDS: Mumbai ITAT
11 months, 3 weeks ago

Taxpayer Must Substantiate Form 26AS Or Form 16 So As To Claim Credit Over TDS: Mumbai ITAT

Live Law  

While remanding the case back for re-adjudication, the Mumbai ITAT held that the prima facie onus would be upon the Assessee to substantiate its claim of non-granting of TDS credit, by providing relevant documents, such as an appointment letter, salary slips or Form No.16 or bank statements, or any other corroborative evidence/ documents. The Bench of the ITAT comprising of …

Direct Tax Cases Weekly Round-Up: 24 To 30 March 2024
11 months, 4 weeks ago

Direct Tax Cases Weekly Round-Up: 24 To 30 March 2024

Live Law  

Delhi High Court Case Title: PCIT Versus Rashmi Rajiv Mehta The Delhi High Court has held that an addition solely based on a photocopy of the sale agreement is completely unwarranted and unjustifiable. Case Title: National Stock Exchange of India Versus DCIT The Mumbai Bench of Income Tax Appellate Tribunal has held that the contribution made by the assessee stock …

Delhi High Court rejects Congress’s plea against tax reassessment
1 year ago

Delhi High Court rejects Congress’s plea against tax reassessment

The Hindu  

In a huge setback to the Congress ahead of the Lok Sabha elections, the Delhi High Court on Friday rejected its pleas challenging the reassessment proceedings initiated against it by the Income Tax department. The Congress has challenged initiation of proceedings under Section 153C of the Income Tax Act for assessment pertaining to assessment years 2014-15 to 2016-17. The I-T …

Delhi HC agrees to hear Congress’s plea against tax re-assessment proceedings
1 year ago

Delhi HC agrees to hear Congress’s plea against tax re-assessment proceedings

The Hindu  

The Delhi High Court on Tuesday listed a petition by the Congress against tax re-assessment proceedings against it for hearing on Wednesday. Last week, the High Court had rejected Congress party’s plea challenging an order of the Income Tax Appellate Tribunal declining to stay an Income Tax Department notice for recovery of outstanding tax of more than ₹100 crore. Senior …

Claim Seeking Application Of Income For Charitable Purpose U/s 11 & 12 Can't Be Denied To Trust On Mere Technicalities: Delhi ITAT
1 year ago

Claim Seeking Application Of Income For Charitable Purpose U/s 11 & 12 Can't Be Denied To Trust On Mere Technicalities: Delhi ITAT

Live Law  

The New Delhi ITAT emphasized that the Revenue Authorities have to tax the right person in right manner and shall not disallow the eligible deductions on mere technicalities. The Bench of M. Balaganesh and Yogesh Kumar U.S observed that “the Revenue has rejected the plea of the Assessee based on mere technicalities and it is not the case of the …

Prima Facie Adjustment Made By CPC Towards Deduction U/s 80P Prior To Apr 01, 2021 Is Beyond Its Jurisdiction: Kolkata ITAT
1 year ago

Prima Facie Adjustment Made By CPC Towards Deduction U/s 80P Prior To Apr 01, 2021 Is Beyond Its Jurisdiction: Kolkata ITAT

Live Law  

The Kolkata ITAT ruled that section 80AC of the Income tax Act puts a bar against claiming of deduction in respect of certain income provided under the head of Chapter VIA which includes section 80P of the Act also if the return of income are not filed before the due date prescribed u/s. The return filed by assessee was processed …

Advance Filing Of Form 10B Along With I-T Return Is Not Mandatory Requirement For Claiming Exemption U/s 11 & 12: Ahmedabad ITAT
1 year ago

Advance Filing Of Form 10B Along With I-T Return Is Not Mandatory Requirement For Claiming Exemption U/s 11 & 12: Ahmedabad ITAT

Live Law  

Referring to the decision in case of Association of Indian Panel board Manufacturer v Deputy Commissioner of Income Tax 157 taxmann.com 550, the Ahmedabad ITAT reiterated that filing of Form 10B along with the return of income is only a procedural requirement and cannot be treated as mandatory requirement for the purpose of claiming exemption u/s 11 & 12 of …

Delhi HC dismisses Congress’ plea in tax dues case
1 year ago

Delhi HC dismisses Congress’ plea in tax dues case

The Hindu  

The Delhi High Court on Wednesday rejected the plea by Congress challenging an order of the Income Tax Appellate Tribunal declining to stay an Income Tax department notice for recovery of outstanding tax of more than ₹100 crore. “The problems that beset the petitioner today are thus, and to a large extent, of its own making,” the High Court said …

Filing Of Audit Report In Form 10CCB Before Due Date As Per Sec 139(1) Is Only Directory And Not Mandatory: New Delhi ITAT
1 year ago

Filing Of Audit Report In Form 10CCB Before Due Date As Per Sec 139(1) Is Only Directory And Not Mandatory: New Delhi ITAT

Live Law  

While holding that filing of audit report in Form 10CCB before the due date for filing of return of income u/s 139 of the Income Tax Act, 1961 is only directory and not mandatory for the year under consideration, the New Delhi ITAT directed the AO to allow deduction claimed u/s 80IA of the Income Tax Act, 1961. The ADIT …

Disallowance Of Claim U/s 80P By CPC Prior To Apr 01, 2021 Is Beyond Its Jurisdiction: Kolkata ITAT
1 year ago

Disallowance Of Claim U/s 80P By CPC Prior To Apr 01, 2021 Is Beyond Its Jurisdiction: Kolkata ITAT

Live Law  

On finding that the alleged disallowance by CPC is beyond its jurisdiction as the adjustment towards deduction u/s. 80P of the Income Tax Act came to CPC only from Apr 01, 2021, the Kolkata ITAT interfered with the action of CPC in denying the deduction u/s 80P of the Income Tax Act, 1961. The Bench of the ITAT comprising Sanjay …

Delhi High Court Directs Dept. To Consider ITC Refund In Light Of CBIC Circular Extending Benefit Of Exclusion Period
1 year, 1 month ago

Delhi High Court Directs Dept. To Consider ITC Refund In Light Of CBIC Circular Extending Benefit Of Exclusion Period

Live Law  

The Delhi High Court has directed the department to consider refunding the input tax credit in light of the circular issued by the Central Board of Indirect Taxes and Customs extending the benefit of the exclusion period.The bench of Justice Sanjeev Sachdeva and Justice Ravinder Dudeja has observed that the benefit of exclusion of the period from March 1, 2020, …

Reopening Initiated On Basis Of Wrong Reasons Renders Very Assessment As Invalid: Mumbai ITAT
1 year, 1 month ago

Reopening Initiated On Basis Of Wrong Reasons Renders Very Assessment As Invalid: Mumbai ITAT

Live Law  

On finding the reasoning behind the Assessment made by the Assessing Officer to be wrong, the Mumbai ITAT allowed the assessee's appeal against the order of Commissioner of Income Tax and National Faceless Appeal Centre. It is fact on record that assessee has filed its return of income and Assessing Officer has accepted the same.” “The assessment order is bad …

Assessment Order Passed Beyond Sec 144C(4) Is Time Barred If Objections To Draft Order Were Filed After Expiry Of Limitation As Per Sec 144C(2): Delhi ITAT
1 year, 2 months ago

Assessment Order Passed Beyond Sec 144C(4) Is Time Barred If Objections To Draft Order Were Filed After Expiry Of Limitation As Per Sec 144C(2): Delhi ITAT

Live Law  

Noticing that the draft assessment order was passed on Mar 4, 2022 and the assessee filed objection before the DRP on Apr 6, 2022 which was beyond the due date provided for filing objection, the Delhi ITAT held the assessment order to be time-barred being passed beyond Section 144C of Income tax Act, 1961 time-limit. Since the final Assessment Order …

Taxpayer Staying In India For Less Than 182 Days As Per Exp 1(A) To Sec 6(1) Of I-T Act, Entitles To 'Non-Resident' Status: Mumbai ITAT
1 year, 2 months ago

Taxpayer Staying In India For Less Than 182 Days As Per Exp 1(A) To Sec 6(1) Of I-T Act, Entitles To 'Non-Resident' Status: Mumbai ITAT

Live Law  

While opining that even if the taxpayer has left India for the purpose of business or profession, the same shall be considered for purpose of employment outside India under Explanation 1 to Section 6 of Income tax Act, 1961, the Mumbai ITAT held that assessee has rightly claimed to be a 'non-resident' as he stayed in India only for a …

CIT(A) Has No Jurisdiction To Enhance Income U/S 251(1) By Disallowing ESOP Expenses In Revised Return If AO Has Not Dealt With It: Mumbai ITAT
1 year, 2 months ago

CIT(A) Has No Jurisdiction To Enhance Income U/S 251(1) By Disallowing ESOP Expenses In Revised Return If AO Has Not Dealt With It: Mumbai ITAT

Live Law  

While setting aside the CIT's order enhancing assessee's income under Section 251 of Income tax Act, 1961 by disallowing Employees Stock Option Plan expenses under Section 37, the Mumbai ITAT held that the CIT has acted beyond his jurisdiction in enhancing assessee's income, since the AO during the course of assessment, has not taken into consideration the assessee's revised return …

Department Can Bring Expenditure Incurred In Earlier Years To Be Taxed In Subsequent Years On Grounds Of Bogus Expenditure: ITAT
1 year, 10 months ago

Department Can Bring Expenditure Incurred In Earlier Years To Be Taxed In Subsequent Years On Grounds Of Bogus Expenditure: ITAT

Live Law  

The Delhi Bench of the Income Tax Appellate Tribunal has observed that the department can bring expenditures incurred in earlier years to be taxed in subsequent years on grounds of bogus expenditure.The bench of B. R. R. Kumar has observed that the department can bring the expenditure incurred in the earlier years to be taxed in the subsequent years if …

Assessment Order Issued Without DIN, Invalid; S. 292B Of ITA Not Applicable: Delhi High Court
1 year, 11 months ago

Assessment Order Issued Without DIN, Invalid; S. 292B Of ITA Not Applicable: Delhi High Court

Live Law  

The Delhi High Court has upheld the order of the Income Tax Appellate Tribunal where it had set aside the assessment order issued by the Income Tax Department without quoting the Document Identification Number. The court ruled that Paragraph 4 of the 2019 Circular clearly provides that any communication, including the communication of assessment order, which is not in conformity …

Appearance Of AR Not Enough For Presuming Service On Assessee Under S. 292BB Of ITA: Orissa High Court
2 years, 1 month ago

Appearance Of AR Not Enough For Presuming Service On Assessee Under S. 292BB Of ITA: Orissa High Court

Live Law  

The Orissa High Court has deprecated the Income Tax Authority who, despite being informed that the assessee was in judicial custody, failed to serve a notice upon him through the Superintendent of the concerned jail, in the proceedings initiated against the assessee under Section 263 of the Income Tax Act, 1961. The Court further ruled that appearance of the authorized …

CBDT extends due date for filing Income Tax Return for AY 2022-23 to November 7
2 years, 5 months ago

CBDT extends due date for filing Income Tax Return for AY 2022-23 to November 7

India TV News  

The Central Board of Direct Taxes has extended the due date for filing of income tax audit report for Assessment Year 2022-23 from 31st September 2022 to 7th November 2022 for companies. https://twitter.com/IncomeTaxIndia/status/1585235440793448448 In a tweet on Wednesday, the board said: "In consequence of the extension of due date for various reports of audit in the case of assessees referred …

Reassessment Notices Issued Between 1st April 2021 To 30th June, 2021 Not Time Barred: Delhi High Court
2 years, 6 months ago

Reassessment Notices Issued Between 1st April 2021 To 30th June, 2021 Not Time Barred: Delhi High Court

Live Law  

The Delhi High Court has held that the reassessment notices issued between 1st April 2021 and 30th June 2021, will be deemed to have been issued under Section 148A of the Income Tax Act.The division bench of Justice Manmohan and Justice Manmeet Pritam Singh Arora has observed that the re-assessment notice dated 29.06.2021, which has been issued within the extended …

Timelines For Uploading TRAN-1 For Seeking Credit And Revision Of Credit Cannot Be One: Madras High Court
2 years, 7 months ago

Timelines For Uploading TRAN-1 For Seeking Credit And Revision Of Credit Cannot Be One: Madras High Court

Live Law  

The Madras High Court has held that the timelines for uploading of TRAN 1 for seeking credit as well as seeking revision of the credit cannot be one and the same as it leads to an unworkable position. The single bench of Justice Anitha Sumanth has observed that the time limit for revision of a TRAN-1 return be identical to …

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