Home Highlights March 2013 Year 2013 This

You may also like:

1. Penalty u/s 271(1)(c) - income voluntarily offered before commencement of assessment proceedings - the time limit for furnishing the revised return of income u/s 139(5)...

2. Amendment of section 139. - Belated Return and Revised Return - Reference to Section 142(1) removed e.g. Any person who has not furnished a return within the time...

3. Penalty levied u/s.271(1)(c) - revised return filed - assessee has adopted the recourse of avoiding litigation, therefore, revised the return to buy peace of mind - no...

4. Validity of revised return 139(5) - Revised return did not conform to the prescription of section 139(5), before its substitution w.e.f. A.Y. 2017-18, which provided for...

5. Penalty u/s. 271(1)(c) - If AO accepted the revised return, there was no question of making inadmissible claim of deduction u/s 10B in such revised return. In fact,...

6. 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)...

7. 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...

8. Penalty levied u/s 271(1)(c) - difference in original return of income and revised return - Had it been the intention of the assessee to make a full and true disclosure...

9. Penalty u/s 271(1)(C) - reopening of assessment u/s 147 after filing of revised return - Revised return was not filed in response to notice issued u/s.148 and therefore,...

10. Penalty proceedings u/s 271 (1) (C) or 276C - assessment u/s 153C - if an entity is legally entitled to file a revised return of tax, even in terms of Section 153C,...

11. Penalty u/s 271(1)(C) - the revenue may be technically correct in not considering the later return of income as a revised return but it cannot be denied that additional...

12. 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...

13. Carry forward of business loss - original return was filed u/s 139(1) within time declaring positive income - later revised return u/s 139(5) filing declaring loss - On...

14. Addition of amount shown in revised return under the pressure of the department - revised return should relate back to the return originally filed, minus the omissions...

15. Penalty u/s 271(1)(c) - Explanation is bonafide is, we find, supported by the fact that during assessment proceedings the assessee, realizing his mistake even before...