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Question: Consequences on deduction claimed under section 80-IB (7) of the act when the assessee not furnished return of income before the due date specified under section 139(1) of the act? Another question is what is the remedy for late filing of the return and to get the deduction claimed under section 80-IB (7) of the act? ITAT BANGALORE decided in the case of Hyagreeva Hotels & Resorts (P) Ltd. v. Dy. CIT on 18 July, 2022.
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Consequences of not filing Form 10B electronically. Whether benefit of exemption under sections 11 and 12 shall be available to the assessee in respect of income derived? Another question is what to do in such circumstances? ITAT, AHMEDABAD BENCH ITA No. 355 & 356/AHD/2021 decided on the issue of dated 15 July, 2022 in the case of Ambica Sarvajnik Trust Anklav v. Dy. CIT (CPC). Kindly click the link to get the answer and full decision.
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ITAT DELHI “SMC” BENCH Pronouncement the order on 27.5.2022 in the case of Bharat Bhushan Jain Vs. ITO.
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हाई कोर्ट ऑफ मद्रास ने 2 अगस्त 2017 को फैसला देते हुए कहा कि अगर कोई एग्रीकल्चर लैंड धारा 2(1A) के अनुसार एग्रीकल्चर लैंड है यदि आयकर दाता ने उसकी एजुकेशन इनकम नहीं बताई है लेकिन उसपर खेती के प्रूफ मौजूद है तो उस पर आयकर नहीं लगेगा कारण की धारा 2(14) में कैपिटल एसेट में एग्रीकल्चर लैंड नहीं आती
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Question: Is assessee deemed in default when not filed stay application but filed the evidence of appeal filed and in this circumstances can recovery action as per sections 222, 223 of the Income Tax Act be initiated by the Tax Recovery Officer?
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Q Can credit of TDS be denied on the ground that income corresponding to the TDS claim made by the assessee is not offered in the in the corresponding year rather offered to tax in earlier years? IN THE ITAT, DELHI BENCH in the case of KEMA India (P) Ltd. v. ITO ITA No. 1616/DEL/2020 on dated 31 March, 2022 Answer: The assessee is entitled to get its credit by way of refund, in spite of not offering any income for tax, arising from profit and loss account, in present assessment year.
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Question: Consequences of Penalty-Concealment-Non-striking off of the irrelevant part while issuing notice u/s 271(1)(c). ITAT – Delhi in the case of Malook Nagar, New Delhi vs Acit Central Circle-15, New Delhi on 13 May, 2022
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Question : Is Penalty under Section 271E is permissible in the absence of regular assessment framed against the assessee by the Revenue? ITAT – Ahmedabad in the case of Vijayaben G Zalavadia, … vs The Jt. Cit, Gandhinagar on 11 May, 2022. Answer: Penalty Quashed.
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Q Validity of 148 notice when the assessment for the same assessment year has not concluded yet? IN THE DELHI HIGH COURT DCM Shriram Ltd. v. Asstt. CIT, W.P.(C) 6627/2022 & CM APPL.20136/2022 on dated 10 May, 2022
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Supreme Court excludes the period starting from 15-3-2020 till 28-2-2022 from limitation period of all judicial proceedings before the Courts/Tribunals. all persons shall have a limitation period of 90 days from 1-3-2022. In the event the actual balance period of limitation remaining, with effect from 01.03.2022 is greater than 90 days, that longer period shall apply.