Home Highlights January 2015 Year 2015 This

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1. Slump sale - CIT(A) was not correct in coming to the conclusion that the negative figure of the net worth should be ignored for working out the capital gains in case of...

2. Set off of MAT credit u/s.115JAA - assessee being a company had filed its return of income in ITR-6 (i.e. prescribed form) under schedule for MAT credit (Schedule MATC),...

3. Disallowance of contingency expenses claimed by the assessee. The Assessing Officer (AO) disallowed the contingency expenses despite acknowledging that the total cost...

4. Income accrued in India - PE in India - attributing profits to the P.E - Computation made by the A.O. in his assessment order is incorrect as the AO has not allowed the...

5. The High Court dismissed the petition seeking rectification of mistake in filing the wrong income tax return (ITR) format, as the assessee had full knowledge of filing...

6. Appraisal report available but AO ignored, a fit case for revision u/s 263 - HC

7. Non-granting of deduction in respect of depreciation u/s.32 - correction in the ITR - the CIT(A)’s claim that the assessee the assessee has filed a revised return...

8. Blocking of input tax credit - The respondents are directed to withdraw the negative block of the electronic credit ledger at the earliest. The negative block. Whatever...

9. Revision u/s 263 - When the order of the AO suffers from a complete lack of enquiry, then the above said principle has no application due to the obvious reason that the...

10. Income-tax (third amendment) Rules, 2012 - amendment in rule 12 and substitution of forms sahaj (itr-1), ITR-2, ITR-3, SUGAM (itr-4s), ITR-4 and itr-v. - Ntf. No....

11. Amendment to Rule 12 and Forms SAHAJ (ITR-1), ITR-2, ITR-3, SUGAM (ITR-4S), ITR-4 AND ITR-V - substituted - Notification

12. Inadvertent mistake in self-assessed Bills of Entry - Seeking Direction to the respondents to reassess the customs duty - Correction of Customs Tarrif Heading (CTH) -...

13. Rectification u/s 154 - The ld. AR invited our attention in ITR 7 where it is mentioned that the correct figures in claim of section 11(1)(2) of the Act. The assessee...

14. Invalid return - Rejection of refund - mismatch in the figures of income returned and as reported in Form 26AS - Technically speaking, the AO has not passed an order u/s...

15. Assessment proceedings were pending when registration u/s 12A was granted on 22/02/2016. The assessee had filed income tax return in ITR-7 instead of ITR-5. The issue...