Only because AO has accepted the deduction claimed towards prior ...

Case Laws Income Tax

November 23, 2014

Only because AO has accepted the deduction claimed towards prior period and exceptional items without making any reference, it cannot be said that the issue was not examined by AO - reopening would amount to change of opinion or a review of assessment order earlier passed which is not permissible in law - AT

View Source

← Previous Next →

Only because AO has accepted the deduction claimed towards prior ...

Case Laws Income Tax

November 23, 2014

You may also like:

Computation of book profit u/s. 115JB of the Act by excluding prior period item - difference in net profit/loss taken by the assessee and the AO on account of provision...

MAT - Rectification of mistake - Deduction of prior period items from book profit - section 115JA - HC

The preliminary assessment u/s 143(1) is limited to processing the return for arithmetical errors, incorrect expense claims, verifying audit reports, deductions, and...

Assessee voluntarily declared income under "income from other sources" in return. AO disallowed deduction claimed for coordination and settlement expenses due to lack of...

Addition of prior period expenditure while computing book profit u/s 115JB - assessee has shown as an item “below the line” and not claimed in normal computation - it is...

Prior period expenditure - when prior period income is taxed prior period expenditure cannot be disallowed - AT

Prior period expenses adjustment against the prior period income - once the prior period income is held to be taxable, the prior period expenditure also should be...

TP adjustment of interest - CIT(A) confirmed upward adjustment towards interest by adopting rupee loan rate instead of LIBOR linked rate in respect of foreign currency...

Disallowance of prior period expenses pertaining to expenditure crystallized or details received after completion of earlier years' audits. Genuineness not doubted,...

Assessment proceedings examined assessee's claim relating to ICDS adjustment made in intimation u/s 143(1). AO issued notices seeking information, assessee provided...

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 ITAT addressed various issues including disallowance u/s 14A r.w.r.8D, where Revenue challenged deletion of disallowance made by AO. ITAT upheld CIT(A)'s decision,...

Non-deduction of TDS - When the assessee has submitted necessary declaration in Form Nos.15G/15H for non-deduction of TDS and also for reversal of TDS deduction on...

Initiation of CIRP - There being categorical default by the Respondent prior to Section 10A period, the Corporate Debtor was clearly not entitled to claim the benefit of...

Addition on account of prior period expenditure - deducting prior period income From prior period expenditure is against well settled principles of law. - AT

Quick Updates: