Home Highlights August 2012 Year 2012 This

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1. Claim of expenditure in the revised return - Once, the assessee has realized that the claim was wrongly not made, the assessee has every right to revise the return...

2. Exemption u/s 11 - Admittedly, the claim of exemption was made in the revised return filed within the statutory time limit but was treated as defective only on flimsy...

3. Claiming carry forward of loss at a higher level - Revised return - Since the assessee furnished the revised return within the stipulated period claiming loss at a...

4. Income from pension fund u/s 10(23AAB) - CIT(A) admitted the fresh claim - Claim of exemption when the income is taxable u/s 44 - If the assessee failed to revise its...

5. Validity of revised return filed vis-a-vis claims made thereunder - revised return treated as non-est - the appellant filed his original return otherwise than u/s 139(1)...

6. Validity of revised return u/s 139(5) - return was revised after issuance of intimation u/s 143(1) - claim of benefit of excess set off of losses and carry forward of...

7. Penalty u/s 271(1)(c) - Assessee in this case has never revised its return during the period prescribed u/s 139(1) rather withdrew the claim during assessment...

8. Carry forward the loss claimed in the revised return of income - the return filed by the assessee u/s. 139(5) of the Act is in accordance with law and therefore the...

9. Non considering the revised return filed by the assessee for rectifying the mistake in claim of depreciation - In this case, the original return was not filed under...

10. Filing of revised return - time limit for filing of revised return - Rule 7B of Service Tax Rules-1994 - the revenue authorities have failed to consider the aspect of...

11. 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...

12. Deduction u/s. 80JJAA - claim made was disallowed to the assessee because it was not included in the return of income filed by the assessee - Assessee did not have the...

13. Penalty u/s. 271(l)(c) - Voluntary disclosure of income or not - revised return of income in which the assessee disclosed details of sale of immovable properties - It is...

14. Validity of Proceedings u/s 144C - Eligible assessee - Original ITR filed declaring the status as "Resident" - In the revised ITR the status declared as "Non-Resident" -...

15. Validity of manual revised returns filed - scheme of demerger approved - scheme of arrangement approved by NCLT required Petitioner and Hind Lamps to file revised...