Yearly Archive: 2020

Employees contribution to PF / ESI contribution-Deposited ‎timely as per section 36(1)(va) or upto due date of filing ITR u/s 139(1)-Law as propounded by case laws is different in different States.

Law as propounded by case laws is different in different States regarding Employees contribution to PF account as well as ESI contribution-Deposited timely as per section 36(1)(va) or upto due date of filing ITR u/s 139(1). Kindly note that…
Read more

2(24)(x), 36(1)(va), 43B, Articles

Case Transferred to AO. This means that the your tax return would be done by ‎the AO instead of the Central Processing Cell. If any assessee gets the above ‎information then either the assessee / through AR or advocate contact to the ‎AO or wait for disposal at the AO end. ‎

Case Transferred to AO. This means that the your tax return would be done by the AO instead of the Central Processing Cell. If any assessee gets the above information then either the assessee / through AR or advocate contact to…
Read more

139, 143(1), Articles

ITAT HYDERABAD on 29th April 2020 held that the sale of the property by the Vendee cum AGPA-holder cannot be considered as sale of property by the assessee when the Vendee has paid the entire sale consideration and has taken possession of the property as the Vendee becomes the owner of the property u/s.53A of the TP Act and u/s.2(47) it is a transfer of the property. Further it is worth noting that except being described as the Vendor, the assessee is neither a signatory to the subsequent Sale Deed nor is he the recipient of any of the sale consideration. In SAMA OM REDDY vs. ITO

ITAT HYDERABAD on 29th April 2020 held that the sale of the property by the Vendee cum AGPA-holder cannot be considered as sale of property by the assessee when the Vendee has paid the entire sale consideration and has taken…
Read more

147, 148, 2(47), 53A of Transfer of Property Act, AY 2012-13, Hyderabad ITAT, In Favour of Assessee

The provisions of Section 263 and various judgments and decisions rendered with regard to ‎Section 263 of the Act. ‎ It is well settled law that for invoking the provisions of section 263 of the Act both the ‎conditions that the order must be erroneous and prejudicial to the interest of revenue ‎needs to be satisfied.‎

Article on section 263

Kindly note Supreme Court in Vodafone Idea on 29th April 2020 held that there is ‎assessment year wise regime in processing of refund u/s 143(1) ‎

CONCLUSION Kindly note Supreme Court in Vodafone Idea on 29th April 2020 held that there is assessment year wise regime in processing of refund u/s 143(1) In respect of Assessment Years ending on 31st March 2017 or before,…
Read more

143(1), 143(1)(a), 143(1C), 143(1D), 143(2), 143(3), 241A, AY 2014-15, AY 2015-16, AY 2016-17, AY 2017-18, In favour of Revenue, Limitation period, Refund, Refund section 143(1), Supreme Court

Supreme court on 24th April, 2020 held that clause (f) in Section 43B of the 1961 Act is ‎constitutionally valid and therefore any sum payable by the assessee as an employer in lieu of ‎any leave at the credit of his employee is allowable only on actual payment. Division Bench ‎of High Court at Calcutta order is reversed.‎

“…..the insertion of clause (f) has not extinguished the autonomy of the assessee to follow the mercantile system. It merely defers the benefit of deduction to be availed by the assessee for the purpose of computing his taxable…
Read more

43B, 43B(f), In favour of Revenue, Supreme Court

ITAT DELHI on Mar 19, 2020 cancelled the penalty levied as the notice issued by the AO was held as bad in law as it did not specify which limb of Section 271(1)(c) the penalty proceedings had been initiated under i.e. whether for concealment of particulars of income or for furnishing of inaccurate particulars of income. ADMAN ADVERTISING vs ACIT

ITAT DELHI on Mar 19, 2020 cancelled the penalty levied as the notice issued by the AO was held as bad in law as it did not specify which limb of Section 271(1)(c) the penalty proceedings had been initiated under…
Read more

271(1)(c), AY 2010-11, Delhi, Delhi Tribunal, In Favour of Assessee, Penalty, penalty 271(1)(c)

During lock down period- the AO has acted with undue haste in passing the orders under Section 201(1)(1A) of the Act.- The writ was allowed for quashing the order passed under Section 201 of the Income Tax Act, 1961- the demand notice. Immediately after the lockdown is withdrawn by the Government, a period of two weeks reckoned therefrom is granted to the petitioner to reply to the Notices to the show cause issued by the respondent.

During lock down period- the AO has acted with undue haste in passing the orders under Section 201(1)(1A) of the Act.- The writ was allowed for quashing the order passed under Section 201 of the Income Tax Act, 1961- the…
Read more

201(1)(1A), AY 2012-13, AY 2013-14, Delhi, Delhi High Court, Demand, In Favour of Assessee

आयकर छापे व सर्वे-कैसे बचे या पड़ जाए तो कैसे सामना करें

आयकर छापे व सर्वे- Please click the link to see the video ‎1.‎ आयकर छापे व सर्वे का मुख्य उद्देश्य आयकर की चोरी को पकड़ना या ‎चोरी को रोकना है ‎ a.‎ आयकर का छापा पड़ने का मुख्य कारण इन…
Read more

ITAT- Amritsar on 18 February, 2020-hold that In the light of ratio laid down by the Hon`ble ‎Supreme Court citation 418 ITR 662 (S.C.) it is the duty of the assessee to keep upto date the ‎address in data base of the IT Department by submitting timely prescribed application.‎

ITAT- Amritsar on 18 February, 2020-hold that In the light of ratio laid down by the Hon`ble Supreme Court citation 418 ITR 662 (S.C.) it is the duty of the assessee to keep upto date the address in data base…
Read more

143(2), 147, 148, 282, 49A, AY 2009-10, ITAT Amritsar ‎