Deduction u/s 80IB(10) - Belated filing of ITR - In the instant ...

Income Tax

December 30, 2023

Deduction u/s 80IB(10) - Belated filing of ITR - In the instant case, the assessee is a statutory organization created by the State for providing & develop housing infrastructure. It took up a defence of late audit for belated filing of its return of income. The veracity of ground so put forth for late filing of return has not been disputed by the appellant. The assessee deals with public money, the State exchequer. - assessee had a reasonable & bonafide cause for not filing the return of income within the time permitted u/s139(1) - ITAT rightly allowed the deduction - HC

View Source

← Previous Next →

Deduction u/s 80IB(10) - Belated filing of ITR - In the instant ...

Income Tax

December 30, 2023

You may also like:

TDS u/s 195 - disallowance u/s 40(a)(i) - allowability of expenditure u/s 37(1) - there is no question of alternating between section 37(1) of the I.T.Act and section...

Addition u/s 68 - Violation of provisions of section 269SS - unexplained cash deposit - Violation of provisions of section 269SS of the I.T.Act calls for penalty u/s...

A member of Legislative Assembly (MLA) is eligible for claiming exemption 10(14) r.w.r 2BB against the transport allowance - However, postal allowance is not covered by...

Allowance of bad debts - Provision made was pre-matured - It was only contingent liability or notional loss which could not be allowed as an expenditure under provisions...

Non acceptance of fresh evidence submitted u/r 46A of the I. T. Rules by CIT(A) - Tribunal noted that, it is possible that in the transition, the ld.CIT(A)[NFAC] had not...

Increased TCS rates to apply from 1st October, 2023 - Important changes w.r.t Liberalised Remittance Scheme (LRS) and Tax Collected at Source (TCS)

Deduction u/s 80P(2)(a)(i) - the assessee had made investments with sub-treasuries and banks in the course of its business of banking / providing credit facilities to...

Deduction u/s. 80(P)(2)(a)(i) - Due date for filing the return of income u/s 139(1) - The assessee cannot be denied deduction under Section 80P(2)(a)(i) of the Act if...

Correct head of income - The provisions of section 56 of the I.T.Act states that in case the property and equipment are let out and if the rent receivable are...

Deduction u/s 10B denied - alternative claim of deduction u/s 10A was not entertained by the CIT(A) primarily for the reason that the assessee had not claimed the same...

Quick Updates: