Undisclosed income - salary income - Assessment u/s 143(3) r.w. ...

High Court rules TDS presence means income isn't undisclosed despite no tax return, per sections 143(3), 158BB(1)(c), 158BC.

August 7, 2015

Case Laws Income Tax HC

Undisclosed income - salary income - Assessment u/s 143(3) r.w. Section 158 BB(1)(c) and 158BC - non filing of return will not make the income as undisclosed income since TDS must have been deducted - HC

View Source

← Previous Next →

Undisclosed income - salary income - Assessment u/s 143(3) r.w. ...

High Court rules TDS presence means income isn't undisclosed despite no tax return, per sections 143(3), 158BB(1)(c), 158BC.

August 7, 2015

Case Laws Income Tax HC

You may also like:

The case pertains to the levy of interest u/s 234C for failure on the part of the payer to deduct tax deducted at source (TDS) u/ss 196D and 194LD. The key points are:...

The summary highlights the key difference between the scope of total income under the Income Tax Act and the Black Money (Undisclosed Foreign Income and Assets) and...

Penalty order u/s 271AAB for treating an amount included in the Return of Income as 'undisclosed income' was found unjustified. The Commissioner of Income Tax (Appeals)...

HC upheld denial of TDS credit to appellant who filed NIL return while claiming TDS benefits. The income corresponding to claimed TDS was reported by ISPL, not the...

Penalty levied by the AO u/s. 271AAB r.w.s. 274 - levy penalty of 30% on undisclosed income - the reasons given by the AO to levy 30% penalty on undisclosed income is...

Disclosure of income under VDIS - set off of tax under VDIS with advance tax (including TDS) in regular course - a Section 70 and 71 mandate that the income disclosed in...

Tax deducted at source (TDS) credit was denied in the intimation u/s 143(1) to the assessee. The Commissioner of Income Tax (Appeals) upheld the Centralized Processing...

Proposed amendment enables recovery of existing liabilities under Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 from seized assets...

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...

Income assessed in hands of Appellant as Representative Assessee. No credit for prepaid taxes availed by beneficiaries. JCIT(A) directed AO to verify claim of prepaid...

Interest u/s 234B - The term “assessed tax” has been defined in Explanation-1 of Section 234B (1). As per said Explanation-1 “assessed tax” means the tax on the total...

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

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...

The assessee failed to file the original return of income, and the Assessing Officer initiated penalty proceedings for underreporting income. The assessee's authorized...

Revenue authorities cannot restrict tax deducted at source (TDS) credit based on assessee's original income tax return. When refund arises from appellate order,...

Quick Updates: