Income accrued in India - Benefit of consistency on the basis of ...

Income Tax

March 12, 2020

Income accrued in India - Benefit of consistency on the basis of orders for earlier assessment years - There was complete silence on this issue by the assessing officer and in our view , there is no purpose of perpetuating the illegality/irregularity either by the assessing officer or by the tribunal. There cannot be consistency of decisions but when there is no decision by the revenue for the earlier years, then there cannot be consistency for no-decisions. - No reason to grant the benefit of consistency to the assessee. - AT

View Source

← Previous Next →

Income accrued in India - Benefit of consistency on the basis of ...

Income Tax

March 12, 2020

You may also like:

Where an assessee makes an application seeking immunity u/s 270AA, it shall not preclude such assessee from contesting the same issue in any earlier assessment year.

Addition made in the book profit u/s 115JB - claim of interest capitalized in earlier years written off during the current year - creation of provision for employee...

Initiation of CIRP - Period of limitation - Article 137 of the Limitation Act, 1963 - Under Article 137, time from which period begins to run is “when the right to apply...

Reopening of assessment u/s 147 - the reopening notice has been issued on the basis of the information obtained during the course of assessment of earlier assessment...

Exemption u/s 11 - Excess expenditure incurred by the trust/charitable institution in earlier assessment year could be allowed to be set off against income of subsequent...

Exemption u/s 11 - the assessee trust is entitled to set off of excess expenditure of earlier years in subsequent assessment years as application of income.

Accrual of income - Income from advance license benefit - income does not accrue in the year of export but in the year in which the imports are made - HC

Exemption u/s 11 - Accumulation of income - Carry forward of deficit - Carry forward of excess expenditure carried forward from the earlier assessment years - The...

Addition u/s 41 - no allowance or deduction had been made in the assessment of the assessee in any earlier year - Consequently, there is no question of invoking section...

Addition u/s 68 - accommodation entry - additions made on the basis of retracted statements - amount received during the earlier years - assessee has furnished all the...

Quick Updates: