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 December 2014 Year 2014 This

Assessee had not filed revised return voluntarily, but had filed ...

Income Tax

December 13, 2014

Assessee had not filed revised return voluntarily, but had filed the revised return after the AO confronted the assessee and they were asked to explain how and why loss on account of sale of fixed assets was claimed in the profit and loss account – the levy of penalty upheld u/s 271(1)(c) - HC

View Source

 


 

You may also like:

  1. Revised return of loss/unabsorbed depreciation – even if the assessee has not filed revised return, AO is bound to allow carried forward loss or depreciation as per the record - AT

  2. When the AO rejects the revised return then the whole return is invalid. In case AO makes addition from the revised return then it means that he recognizes the revised...

  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. 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)...

  5. Failure on the part of the assessee to file the returns voluntarily, as statutorily prescribed, would be a culpable act or omission attracting penalty under Section 271(1)(c).

  6. Validity of manual revised returns filed - scheme of demerger approved - scheme of arrangement approved by NCLT required Petitioner and Hind Lamps to file revised...

  7. Levy of penalty u/s 271(1)(c) - Once the AO accepts the revised return filed u/s 153A, the original return under Section 139 abates and becomes non-est - assessee has...

  8. Penalty u/s 271(1)(c) - revised returns were not valid returns u/s 139(5) and that, such returns were not voluntarily filed rather the same were filed only after...

  9. Filing of e-return by Legal Heir (LH) using DSC: Revised Process.

  10. 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)...

 

Quick Updates:Latest Updates