Deduction now being claimed by the assessee is not in relation ...

Income Tax

August 6, 2014

Deduction now being claimed by the assessee is not in relation to the escaped income sought to be taxed by the AO in reassessment proceedings and the assessee cannot be allowed to claim deduction of the amount in reassessment proceedings - AT

View Source

← Previous Next →

Deduction now being claimed by the assessee is not in relation ...

Income Tax

August 6, 2014

You may also like:

Penalty u/s 271(1)(c) – In the garb of the bona fide claim an assessee cannot escape levy of penalty - Onus was not on the AO to prove the negative - AT

Non deduction of TDS on the request of payee / director that he has deposited advance tax, assessee can not be escaped from penalty

Assessment in pursuance of research u/s 153A - It is not open for the assessee to seek deduction or claim expenditure which has not been claimed in the original assessment - HC

Disallowance of bad debts as claimed u/s 36(1)(viia) - deduction claimed @10% of aggregate average advances - AO is directed to make relevant enquires and verifications...

Where income liable to tax has escaped in the original assessment due to oversight and inadvertence or a mistake committed by the AO, then he has jurisdiction to reopen...

Reopening of assessment u/s 147 - double deduction u/s 80IB - In the reasons for re-opening, there is not even a whisper as to what was not disclosed. In our view, this...

Seeking a lower deduction of tax certificate (“LDC”) - LDC was grated for TDS @ 0.5% instead of @ 0.01% as sought - The reasons furnished by the Respondent No. 1 qua the...

Claim of deductions against escaped income - where the claims of the assessee durng the course of re-assessment proceedings relating to the escaped income are accepted,...

Deduction on municipal taxes – Income declared as income from other sources – claim of expenditure/deduction of actual payment made by the assessee in respect of the...

Reopening of assessment u/s 147 - undisclosed LTCG - when the information was specific with regard to transactions of penny stock entered into by the assessee, and the...

Quick Updates: