Home Highlights February 2013 Year 2013 This

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1. Carry forward the loss claimed in the revised return of income - the return filed by the assessee u/s. 139(5) of the Act is in accordance with law and therefore the...

2. Revised return filed beyond the permissible date - Set off of brought forward business loss and unabsorbed depreciation of amalgamating company - revised return...

3. Validity of revised return u/s 139(5) - return was revised after issuance of intimation u/s 143(1) - claim of benefit of excess set off of losses and carry forward of...

4. Validity of revised return filed vis-a-vis claims made thereunder - revised return treated as non-est - the appellant filed his original return otherwise than u/s 139(1)...

5. Having lost the right to file revised return of income, the assessee could not have made good the same by filing revised computation of income and thus claim carry...

6. Settlement of case - Set off the unabsorbed business loss - filing of belated return - Indeed, the assessee disclosed the income declared in the settlement commission...

7. Scope of section 80A(5) - Revised return was not permissible and revised return of revised return is not thought of by the legislature. Thus, u/s 139(5) once return is...

8. Carry forward of business loss - original return was filed u/s 139(1) within time declaring positive income - later revised return u/s 139(5) filing declaring loss - On...

9. Not accepting the revised return of income and disallowing the claim of loss - Submission of return for losses - there is no specific denial u/s 80 that the return filed...

10. Claiming carry forward of loss at a higher level - Revised return - Since the assessee furnished the revised return within the stipulated period claiming loss at a...

11. Rectification order u/s 154 - claim of long term capital loss - the returns filed u/s 139(5) and claim made therein in the revise return, which has no effect on the...

12. New claim of capital losses in the revised return - Return filed within the due date prescribed u/s 139(5) but subsequent to the due date prescribed u/s 139(1) -...

13. Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

14. Set off of brought forward losses denied - change in the shareholding pattern of the assessee post merger - Considering the fact that the assessee is a subsidiary of...

15. Validity of revised returns u/s 139(5) - condition no. (ii) of sec. 139(5) - AO and CIT(A) was not justified in bringing to tax such hypothetical income in the hands of...