Home Highlights March 2013 Year 2013 This

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1. 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...

2. Revision u/s 263 - Period of limitation - if the issue on which the proceedings u/s 263 is initiated is not a subject matter of the assessment order passed u/s 143(3)...

3. Disallowance of expenditure while processing the return u/s 143(1) by the CPC - the CPC has erred in disallowing the assessee’s claim of expenditure while processing the...

4. Prima facie adjustments - while processing the return u/s 143(1) - The tax auditor had not stated in the instant case to disallow Employees Contribution to Provident...

5. Late payments towards EPF and ESI under section 36(1)(va) - Contribution made prior to filing of the return of income u/s. 139(1) - Addition by way of adjustment while...

6. Exemption u/s 11 denied - intimation was issued u/s. 143(1) - The Central Processing Center has also taxed the entire gross receipt of the assessee without allowing any...

7. Notice u/s 143(2) - period of limitation - defective return filed u/s 139(1) - upon such defects being removed, the return would relate back to the date of filing of the...

8. Revision u/s 263 - period of limitation - To be calculated from the date of original assessment or from the date of re-assessment after reopening - the issue on which...

9. Revision u/s 263 - Transfer pricing (TP) adjustments - passing an order u/s 143(3) r.w.s 144C after the prescribed time limit u/s 153(1) r.w.s 92CA - When the original...

10. Revision u/s 263 - the notice u/s. 143(2) of the Act, was issued much prior to the assessee filing his return of income. This is not in accordance with law. Hence the...

11. Addition in respect of employees contribution to ESI & PF - delayed deposits of contributions - addition by way of adjustment while processing the return of income u/s...

12. 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...

13. Revision u/s 263 - Revision barred by limitation or not? - Period to be computed from the date of original assessment u/s 143(3) or from the date of subsequent order...

14. Revision u/s 263 - AO while completing the assessment u/s 143(3) never applied his mind to various issues as pointed out by the CIT - revision upheld - AT

15. Addition by way of adjustment u/s 143(1) by CPC - Procedure - Unlike the old scheme of ‘prima facie adjustments’ u/s 143(1)(a), the scheme of present section 143(1) does...