Home Highlights June 2014 Year 2014 This

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1. Levy Penalty - even in response to notices issued by the AO for the second time u/s 17, the assessee did not disclose the value of motor cars by filing fresh returns of...

2. Validity of assessment u/s 147 - it is not a return u/s 119(2)(b) albeit it is a return filed in response to notice u/s 148 which has been accepted by the AO. Thus, when...

3. Assessment completed u/s 144 - defective return - Return filed in response to the notice issued u/s 153A it has been stated that the return filed u/s 139(1) of the Act...

4. Reopening of assessment u/s 147 - When the A.O. admits in the notice under section 142(1) Dated 20.10.2014 that assessee filed return of income under section 148 of the...

5. Levy of penalty u/s 272A(2)(k) - Belated filing of TDS return - On filing the belated returns/statements, Revenue has not suffered any loss because the tax deducted was...

6. Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

7. Validity of SCN - Reversal of Input Tax Credit - In the show-cause notice, the respondents have alleged that the notice i.e. petitioner has willfully filed the return on...

8. Levy of penalty u/s.271B - belated submission of tax audit report - Admittedly, tax audit report was filed alongwith return filed in response to show cause notice issued...

9. Validity of notice proposing for Best Judgement assessment u/s 144 - Failure to file ITR in response to notice u/s 148 r.w.s. 142(1) due to medical reasons and recovery...

10. Cancellation of registration of petitioner - The petitioners are permitted to file their returns for the period prior to the cancellation of registration, if such...

11. Penalty u/s 271 - assessment under section 153C has been completed on the figures disclosed by it in the return filed under section 153C -Whether Tribunal was justified...

12. Processing of invalid return u/s 143(1) - Denial of exemption u/s 10(23C)(iiiad) - non-filing of ITR-V within 120 days made the assessee’s return as ‘invalid’ being...

13. Filing of revised return - denial of loss - Considering the revised return date as belated return, whereas original ITR was filed in time - the intimation under...

14. Disallowance of exemption claimed u/s 54EC - non filling ROI - investment made in REC - assessee has neither filed return of income u/s 139(1) of the Act, nor in...

15. Carry forward of business loss – Assessment u/s 153A - Non filing of return u/s 139(1) - assessee is not supposed to file its return of income u/s 139(1) of the Act...