Home Highlights December 2023 Year 2023 This

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1. Denial of benefit u/s 115BAA of reduced rate of tax @22% - Domestic Companies - Condonation of delay in filing of Form No. 10-IC by the assessee - The Appellate Tribunal...

2. Denial of benefit u/s 115BAA - while filing its return of income as it was unable to upload Form 10-IC due to technical glitches - Scope of CBDT circular - Despite the...

3. Levy of income tax - Applying the concessional rate of tax @ 22% u/s 115BAA - assessee did not file Form 10–IC before the due date of filing the return of income - no...

4. Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

5. Accumalation of income under 11(2) - form no. 10 - Filing of the form before assessment is not an empty formality because it is necessary to take into account its...

6. Benefit of the option of lower rate of tax exercised by the assessee u/s 115BA - claim was denied by the CPC/CIT(A) for the simple reason that the assessee has not filed...

7. Entitlement to benefits u/s 115BAA - Tax on income of certain domestic companies - We dispose of this writ application reserving the liberty for the writ applicant to...

8. Exemption u/s 11 - delayed filing of Form No.10 - disallowance of benefit of accumulation of income as per section 11(2) - ITAT has held in a number of decisions that...

9. Co-operative Societies - Rate of Income Tax - For normal provision same rate of tax and surcharge as applicable will continue and for computation of tax under sec 115BAD...

10. Exemption u/s 11 denied - delay in filing Form no. 10 - Department's objection that the audit report in Form no. 10B was also delayed and such delay had neither been...

11. Profiteering - restaurant service - reduction in rate of GST - every recipient/ customer is entitled to the benefit of the tax rate reduction by way of reduced prices...

12. Foreign Tax Credit u/s. 90 - Assessee did not file Form 67 at the time of filing of her return of income - Referring to established case law, the Tribunal affirmed that...

13. MAT - Income to be taxed u/s 115BAA or u/s 115JB - assessee has not uploaded Form 10-IC electronically before or at the time of filing of return of income within time...

14. Exemption u/s 11 - accumulation of 15% of income - Form 10 can be filed before the conclusion of the assessment proceedings - AO should provide opportunity for...

15. Rate of service tax increased from 10% to 12%