Home Highlights September 2012 Year 2012 This

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1. Rectification u/s 154 - Determination of turnover - charging of tax rate at 30% on the total income of the appellant - Assessee’s claim cannot be considered to be an...

2. Rectification of mistake u/s 154 - the power u/s 154 is not a power to review an order and the power can be invoked to rectify a mistake, which is apparent from the...

3. Revision u/s 263 - carry forward of losses on sale of shares - where there are two possible views and the Assessing Officer has taken one of the possible views, no...

4. Revision u/s 263 by CIT - sale of impugned land measuring 10.162 acres below the stamp duty value - under the given circumstances, it can be safely concluded that the...

5. Scope of rectification of mistake - The case revolved around the disallowance of EPF and ESI contributions by the Assessing Officer u/s 154 of the Income-tax Act, 1961....

6. Power of Tribunal to recall its earlier order and hear the appeal afresh - power to review or power of rectification – Tribunal committed no error in exercising power...

7. Revision u/s 263 - Revision based on Audit Objection - a mechanical exercise of revisionary powers u/s 263 by the Revisionary Authority by merely citing the Audit...

8. Late fees payable u/s 234E - Once, the AO has no power to levy any late filing fee for the return processed prior to 01.06.2015, then no such power can be exercised by...

9. Rectification u/s 154 - the issue whether the deprecation @100% or 15% on interiors which are purely wooden structures is a debatable point as it requires examination of...

10. Rectification u/s 154 - the decision on a question of law on which the judgement is based has been reversed or modified by any subsequent decision of a superior court...

11. Rectification of mistake - The scope and ambit of the power which could be exercised u/s 254(2) is circumscribed and restricted within the ambit of the power vested by...

12. Rectification of mistake u/s 154 - AO has travelled beyond the jurisdiction and scope of Section 154 - Instead of sending a proposal for revision of the order u/s 263 of...

13. Rectification of mistake u/s 154 - TDS u/s 194A - interest income of NOIDA to be eligible to exemption under Section 194A(3)(iii)(f) - CIT(A) has wrongly exercised his...

14. Scope of rectification of mistake order u/s 154 - If this procedure is not followed of issuing the notice and giving reasonable opportunity of being heard, further...

15. Rectification u/s 154 of the Revision order passed u/s 263 by CIT - Period of limitation - There cannot be any occasion for rectification u/s. 154 of the Act for that...