Home Highlights July 2013 Year 2013 This

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1. Deduction u/s. 80-IA - Claim denied as return of income was not accompanied by the mandatory audit report as prescribed in Form No.10CCB - assessee has filed an audit...

2. Allowance of claim u/s 80J - Deduction claimed shall not be admissible unless the assessee also furnishes along with the return, the audit report in the prescribed form...

3. Exemption u/s 11 and 12 - assessee failed to file the Audit Report in Form 10B along with the Return of Income - None of the authorities had any occasion to verify Audit...

4. The High Court quashed the reassessment notices issued u/s 148 and the consequent initiation of reassessment proceedings, ruling in favor of the assessee. The key points...

5. Deduction u/s 80IB - No infirmity either in the procedure or in passing of intimation u/s 143 (1A) of the act as well as in denying deduction u/s 80 IB of the act to the...

6. Exemption u/s.11 - Denial of exemption audit report in form 10B was not furnished along with the return of income - audit report was filed by the assessee before the...

7. Deduction u/s 80-IA - Assessee not filed form No.10CCB alongwith return of income in original assessment proceedings - the audit report furnished at the time of...

8. Levy of penalty u/s. 271B - default in furnishing of Tax Audit Report - In section 271B of the Act, the only requirement is to get the accounts of assessee audited or...

9. The Appellate Tribunal considered the disallowance of deduction claimed u/s 80-IA due to the assessee's failure to file Form no.10CCB on time. The Tribunal found that...

10. Denial of deduction u/s 10AA - assessee contended that filing of Audit Report as required u/s.10AA(8) of the Act, is procedural and directory in nature and thus, for...

11. Deduction claimed u/s 11(1)(a) - audit report was filed belatedly - in the assessment year under consideration, viz., AY 2015-16, the requirement under the Act was to...

12. Impugned order set aside, matter remitted back to Assessing Officer for fresh consideration. Assessing Officer rejected claim based on Tax Audit Report not being duly...

13. Penalty u/s 271B - assessee had failed to get his account audited u/s 44AB - The assessee explained that the delay in furnishing the Audit Report was due to the death of...

14. Special audit report u/s 142(2A) - An admitted fact on record that the AO had no occasion to examine the books of accounts furnished by the assessee, which were actually...

15. Filing of Cost Audit Report (Form I) and Compliance Report (Form A) in the eXtensible Business Reporting Language (XBRL) mode. - Circular