Rectification of mistake u/s 154 - Disallowing Derivatives F & O ...

Income Tax

February 24, 2022

Rectification of mistake u/s 154 - Disallowing Derivatives F & O loss and Speculation profit - The appellant sought to claim a deduction by way of a letter before the Assessing Officer. The deduction was disallowed by the Assessing Officer on the ground that there was no provision under the Income-tax Act to make amendment in the return of income by filing an application at the assessment stage without revising the return. - Action of AO confirmed - AT

View Source

← Previous Next →

Rectification of mistake u/s 154 - Disallowing Derivatives F & O ...

Income Tax

February 24, 2022

You may also like:

Transactions in derivatives on recognized stock exchange not as deemed speculative - the transaction carried in future and options (derivatives) are outside the purview...

Disallowance of set-off loss on derivative trading - can not be held as loss from speculation business, simply because procedural mechanism has taken a long time to...

Rectification of mistake u/s 154 - belated return u/s 139(4) - Subsequently revised - request of rectification based on revised return - not permissible as belated...

Rectification of mistake u/s 154 - CIT(A) has complicated the issue of a simple rectification to be carried out - AT

Rectification of mistake u/s 154 - The set off of the impugned loss against the assessee’s other income without reference to s. 43(5) is clearly a mistake apparent from...

Rectification of mistake - Notice u/s 154 - notice u/s 148 issued squarely on the basis of notice under Section 154 - both the noticses set aisde - SC

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...

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...

Rectification u/s 154 - addition u/s 69 r.w.s. 115BBE - disallowing 30% of the expenditure pertaining to salary, rent, contract and professional fee as per Section 40...

Treating loss from derivative transactions as loss from speculation business - No doubt, if the said loss is incurred from derivative transactions, the same would not be...

Quick Updates: