Deduction u/s 80P(2)(a)(i) - The Tribunal rejected the Revenue's ...

Tribunal Dismisses Revenue's Argument on Timing, Confirms Deduction Claim in Belated Return Not Affected by Amendments.

April 18, 2024

Case Laws Income Tax AT

Deduction u/s 80P(2)(a)(i) - The Tribunal rejected the Revenue's argument regarding the timing of the return filing, emphasizing that the amended provision did not apply retrospectively to the assessment year in question. Regarding the alleged failure to claim deduction in the belated return, the Tribunal found that the claim was indeed made, thus dismissing the Revenue's contention.

View Source

← Previous Next →

Deduction u/s 80P(2)(a)(i) - The Tribunal rejected the Revenue's ...

Tribunal Dismisses Revenue's Argument on Timing, Confirms Deduction Claim in Belated Return Not Affected by Amendments.

April 18, 2024

Case Laws Income Tax AT

You may also like:

The case involved a dispute over a refund claim u/s 11B of the Central Excise Act. The Appellate Tribunal held that the time limitation for filing the refund claim did...

The Income Tax Appellate Tribunal considered whether an assessee can claim deduction under Chapter VI-A of the Income Tax Act, 1961 for the first time in the return...

The NCLAT dismissed appellants' attempt to submit belated claims after a resolution plan had already been approved by both the CoC and Adjudicating Authority. The...

ITAT dismissed the revenue's appeal, affirming the CIT(A)'s order. The Tribunal held that the consequential assessment order was invalid since the original order under...

ITAT ruled in favor of assessee regarding GST disallowance u/s 43B. The tribunal found that GST amount was not routed through Profit & Loss account but shown under...

Time limit to pass assessment u/s. 92CA(3) - Transfer pricing adjustments - After thorough consideration of the statutory provisions and legal arguments presented by...

CIRP - admission of belated claim - financial debt - It is apt to note that one of the most crucial principle is time is essence in any resolution process within which...

Denial of deduction claimed under Chapter VI-A i.e. Section 80G/ 80GGA read with Section 35AC - The Appellate Tribunal noted that the appellant had not claimed the...

The ITAT rejected the Revenue's appeal concerning disallowance of exemption under s.10(23C)(vi). The Tribunal accepted the assessee's contention that the AO failed to...

Foreign tax credit claim for doubly taxed foreign sourced salary income was denied due to belated filing of Form No. 67. The Tribunal allowed the assessee's claim,...

The assessee's claim for deduction u/s 80IC for the finished products manufactured at Unit No. III at Paonta Sahib, Himachal Pradesh, was initially allowed but later...

Settlement of belated claims - Condonation of delay in filing the claim - The Tribunal noted discrepancies in the Appellant's documents and the lack of corresponding...

Belated claim of exemption u/s 54F - The relaxation u/s 119(2)(c) can be sought by the assessee at the time of claiming deduction and such claim can be made only within...

ITAT determined CPC exceeded jurisdictional authority in disallowing Section 80P deduction for cooperative society. Despite belated ITR filing, the tribunal found no...

The assessee, after being amalgamated with another company, treated the excess consideration paid over the net assets acquired as goodwill and claimed depreciation at...

Quick Updates: