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 January 2014 Year 2014 This

Where the assessee has not claimed certain expenditures clearly ...


Assessing Officer Must Offer Relief for Unclaimed Expenditures Evident in Records During Assessment Proceedings.

January 24, 2014

Case Laws     Income Tax     AT

Where the assessee has not claimed certain expenditures clearly evident from records and it comes to the knowledge of Assessing Officer at the time of assessment proceedings, AO should grant relief to the assessee - AT

View Source

 


 

You may also like:

  1. The High Court held that for levying penalty u/s 271D for violation of Section 269SS, the Assessing Officer must record satisfaction that the provisions were violated....

  2. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

  3. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

  4. Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

  5. Reopening of assessment u/s 147 - while disposing of the objections against the reopening, Assessing Officer has observed that it has credible information as received by...

  6. Levy of penalty u/s. 271(1)(c) - Addition of LTCG - Assessing Officer while recording satisfaction has invoked both the charges of section 271(1)(c) - ambiguity and...

  7. Estimation of income - On Money - Unaccounted on money receipt from the real estate project - the assessing officer being investigator and adjudicator was under...

  8. Reopening of assessment u/s 147 - AO has recorded the reasons after getting the information from the Directorate of Information New Delhi and applied his own mind in...

  9. Formation of belief by the Assessing Officer that income has escaped assessment is the crux of the reopening provision. The reasons recorded must be based on tangible...

  10. Deduction u/s.35 AD(5)(aa) - whole of capital expenditure incurred for purpose of development of hotel claimed - We restore the issue to file of the Assessing Officer...

  11. The High Court quashed the reopening of assessments u/s 148, holding that the reasons recorded by the Assessing Officer were cryptic, vague, lacking nexus, and...

  12. Disallowance u/s 14A read with Rule 8D - The assessing officer's reliance on CBDT Circular No. 5 of 2014 to make disallowance u/s 14A is legally untenable and liable to...

  13. The High Court held that the Assessing Officer cannot reopen the assessment u/s 147 merely based on a change of opinion. The assessee had fully and truly disclosed all...

  14. The assessee's reconciliation explained total purchases, including capital goods and purchase returns, tallying with recorded purchases. The Tribunal correctly held that...

  15. Disallowance u/s 14A - non recording of satisfaction - Suo moto disallowances were not commented upon by the Assessing Officer but were completely disregarded and no...

 

Quick Updates:Latest Updates