Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2013 Year 2013 This

Revision u/s 263 - Section 145A is a non-obstante provision, ...


Court Upholds Section 263 Revision: Section 145A Must Be Followed for Accurate Income Reporting.

June 29, 2013

Case Laws     Income Tax     AT

Revision u/s 263 - Section 145A is a non-obstante provision, which, therefore, is to be necessarily followed for the purpose of returning the income - revision upheld - AT

View Source

 


 

You may also like:

  1. The High Court held that rent income derived from letting out properties by the assessee should be treated as 'Income from Profits and Gains of Business' and not 'Income...

  2. The Income Tax Settlement Commission passed an order charging interest u/ss 234A, 234B, and 234C of the Income Tax Act. The petitioners challenged the order's...

  3. Deduction u/s 54 - It is settled law that when on an issue there is no jurisdictional High Court decision other Hon’ble High Court decision has to be followed by...

  4. The Central Government, in consultation with the Chief Justice of the Madras High Court, designated the following courts as Special Courts in Tamil Nadu for cases u/s...

  5. Defreezing of bank accounts - Implication of Non-Reporting of Seizure Forthwith to the Magistrate - The Supreme Court judgment addresses the critical question of whether...

  6. Penalty u/s 270A - “under reporting” of the income - The assessee has not under reported any income. The addition has arisen on account of change in head of income. We...

  7. Insertion of new section 270A - Penalty for underreporting and misreporting of income. - tax payable on under-reported income shall be calculated as if such...

  8. The CESTAT dismissed the Revenue's appeal regarding the determination of export duty on exported iron ore fines. The Tribunal held that the iron content, prior to the...

  9. Section 43D and Rule 6EB form a comprehensive code for deduction on account of non-performing assets (NPAs), distinct from NHB guidelines classifying NPAs. The court...

  10. The Delhi High Court analyzed the levy of penalty u/s 270A for under-reporting and misreporting of income. The court emphasized that under-reporting and misreporting are...

  11. Two key issues: 1) Assessment of rental income received by co-owners as income of an Association of Persons (AOP), and 2) Treatment of income from letting out a plinth...

  12. Refund of accumulated balance of credit on education cess and secondary and higher education cess - credit could not be utilised prior to GST regime - It is, therefore,...

  13. Rejection of rectification petition - turnover of the petitioner was erroneously reported in the GSTR 1 return - The High Court acknowledges the petitioner's claim...

  14. Penalty proceedings u/s 270A - Applicable rate of penalty - The Appellate Tribunal noted that while the penalty notice cited under-reporting of income, the AO imposed...

  15. Valuation of imported goods - Ethylene Vinyl Acetate [EVA] - The appellant declared it as 18%, but testing by CIPET revealed a higher content of 22.4%. Despite the...

 

Quick Updates:Latest Updates