Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Characterization of receipt - amount received by...     TaxTMI    Validity of assessment order - SCN as also the...     TaxTMI    Seeking reimbursement of GST amount paid by the...     TaxTMI    Condonation of delay in filing an appeal before the...     TaxTMI    Valuation of imported goods - inclusion of royalty...     TaxTMI    Reopening of assessment u/s 147 - The petitioner...     TaxTMI    Validity Of Order passed u/s 73 of the Central...     TaxTMI    Denial of Input Tax Credit (ITC) - Proof of...     TaxTMI    Rectification petition - Validity Of Order passed -...     TaxTMI    Service of SCN - Breach of principles of natural...     TaxTMI    Fixation of Tariff Value of Edible Oils, Brass...     TaxTMI    The Ministry of Finance's recent notification...     TaxTMI    Levy of late fee u/s 234E for the delay in filing...     TaxTMI    Jurisdiction to issue show cause notice and...     TaxTMI    Disparity between the petitioner's GSTR 1 and GSTR...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2020 Year 2020 This

Revision u/s 263 - default in allowing LTCL by AO - writing off ...

Income Tax

April 13, 2020

Revision u/s 263 - default in allowing LTCL by AO - writing off of advances for machinery and claiming the same as long-term capital loss to be carried forward has nothing to do with "note on allowability of provision written back". - there is enquiry and application of mind by the assessing officer is not all sustainable - Revision order confirmed - AT

View Source

 

← Previous Next →

 

You may also like:

  1. Claim of deduction written off on account of unrecoverable advance made for purchase of machinery - deduction allowed - AT

  2. Set off of long term capital loss from sale of shares off market against the long term capital gain on sale of land allowed.

  3. Revision u/s 263 by CIT - Wrong claim of carry forward of long term capital loss - the long term capital gain, which is exempted under section 10(38) of the Act, would...

  4. Set off of brought forward loss against Long Term Capital Gain (LTCG) - AO was of the view that since the LTCL no longer exist in books of account, it cannot be set off...

  5. Assessee has rightly claimed short term capital loss which is eligible to be set off against long term capital gain and the impugned transaction is neither “sham” nor...

  6. Revision u/s 263 by CIT - set off of brought forward business loss from the income assessable under the head 'Capital Gain' - gain of depreciable assets by entering into...

  7. Business loss or Bad Debts - written off of advances – advances given for material supply – held as business loss instead of bad debts - claim allowed - AT

  8. Setting off the long term capital loss arising on sale of shares not subject to STT against long term capital gain arising from sale of Shares subjected to STT exempt...

  9. Deletion of disallowance of bad debts/ advances written off – Allowability to deduct the losses and debts of subsidiary company – claim allowed - AT

  10. Revision u/s 263 by CIT - the assessee has written off an amount as advance written off towards cost of land and there is nothing available on record to show that the AO...

 

Quick Updates:Latest Updates

F: PAYMENT TO CINE OR TV ARTISTS. LIABILITY UNDER RCM
F: Bill To a Overseas Company Supply of goods Locally
A: Guidelines for AOs for initiating proceedings u/s 147 of I.T. Act, 196...
A: Navigating the Business Landscape: The Imperative of Effective Cost Ma...
A: REJECTION OF REPAYMENT PLAN
A: Assessee is entitled to stay on recovery proceedings when Appellate Tr...
F: Credit Note
H: Eligibility for concessional rate of GST - Biomass Fired (Steam) Boile...
H: Allowable expenditure of Education Cess” - The Supreme Court set aside...
H: Waiver of interest u/s 234A, 234B and 234C - marginal delay in filing ...
H: Validity of assessment order - as argued without giving the petitioner...
H: Estimation of income - bogus purchases - quantification of profit - Th...
H: Reopening of assessment - The Appellate Tribunal cited the CBDTs instr...
H: Levying penalty u/s. 271(1)(c) - The appellant, a partner in a partner...
H: Jurisdiction of AO - Validity of notice issued u/s 143(2) - No objecti...
H: Addition u/s 40A(3) - Cash expenditure - assessee has made payments to...
H: Income taxable in India or not - Salary income - Australia assignment ...
H: Taxability of income in India - Addition of receipt emanating from off...
H: Eligibility of Deduction u/s 80P - bank interest earned from cooperati...
H: Adjudication of SCN after 17 years - The High Court ruled that the bel...
H: Finalization of the provisional assessment - The High Court emphasized...
H: Remission of duty - Application of Section 23 - duty free goods brough...
F: Notification No. 3/2023 - Compensation Cess (Rate) dt. 26.07.2023-Is i...
N: Rate of exchange of one unit of foreign currency equivalent to Indian ...
C: Partial modification to the circular no. IBBI/LIQ/61/2023 dated 28th S...
C: Circular on Standardization of the Private Placement Memorandum (PPM) ...
C: Discontinuation of Safeguard measures on import of Isopropyl alcohol (...
A: The onus is entirely on the Revenue to establish existence of PE every year
A: Know the Contrasts between PF and ESIC
A: RECENT SUPREME COURT JUDGMENTS ON ARBITRATION