Home Highlights February 2013 Year 2013 This

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1. Claim of expenditure in the revised return - Once, the assessee has realized that the claim was wrongly not made, the assessee has every right to revise the return...

2. Income from pension fund u/s 10(23AAB) - CIT(A) admitted the fresh claim - Claim of exemption when the income is taxable u/s 44 - If the assessee failed to revise its...

3. Exemption u/s 11 - Admittedly, the claim of exemption was made in the revised return filed within the statutory time limit but was treated as defective only on flimsy...

4. 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...

5. 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)...

6. Filing of revised return - time limit for filing of revised return - Rule 7B of Service Tax Rules-1994 - the revenue authorities have failed to consider the aspect of...

7. Addition of amount shown in revised return under the pressure of the department - revised return should relate back to the return originally filed, minus the omissions...

8. Filing of revised return - denial of loss - Considering the revised return date as belated return, whereas original ITR was filed in time - the intimation under...

9. Disallowance of bad debts u/s 36(1) - The non-realisation of debt can result in bad debt written off if the same is written off in the books. Since it is not the case...

10. When the AO rejects the revised return then the whole return is invalid. In case AO makes addition from the revised return then it means that he recognizes the revised...

11. Revised return of loss/unabsorbed depreciation – even if the assessee has not filed revised return, AO is bound to allow carried forward loss or depreciation as per the record - AT

12. Revised return filed after expiry of one year - voluntary revised return u/s 139(5) or return filed in pursuance of notice u/s 148 - Revised return after approval of...

13. 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...

14. Allowability of deduction u/s 80P - denial of claim by CIT-A solely on the ground that the assessee had not made a claim in the original or in the revised return of...

15. Non considering the revised return filed by the assessee for rectifying the mistake in claim of depreciation - In this case, the original return was not filed under...