Entitlement to deduction U/s 54 - Assessing Officer cannot ...

Deduction u/s 54 Must Be Claimed in Revised Return Before Assessment Proceedings; Late Filing Cannot Be Revised.

November 30, 2015

Case Laws Income Tax AT

Entitlement to deduction U/s 54 - Assessing Officer cannot allow deduction claimed during the course of assessment proceedings, it can be claimed only in revised return filed before him. The assessee’s return was belated, which cannot be revised under the law. - AT

View Source

← Previous Next →

Entitlement to deduction U/s 54 - Assessing Officer cannot ...

Deduction u/s 54 Must Be Claimed in Revised Return Before Assessment Proceedings; Late Filing Cannot Be Revised.

November 30, 2015

Case Laws Income Tax AT

You may also like:

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...

Exemption u/s 11 - Admittedly, the claim of exemption was made in the revised return filed within the statutory time limit but was treated as defective only on flimsy...

The assessee filed an original return u/s 139(4) and later discovered an omission, wrongly claiming deduction u/s 57 for interest paid on borrowed capital under 'Income...

Eligibility of deduction u/s 54 and 54F - in return deduction claimed u/s 54F - in assessment proceedings revised his claim u/s 54 - AO is duty bound to allow deduction...

ITAT allowed taxpayer's appeal regarding deduction claim under Section 80JJAA made in revised return. While AO rejected the claim solely due to timing of revised return...

The issue pertained to the validity of filing a revised return after the prescribed time limit. The High Court set aside the Tribunal's order, stating that after the...

The assessee, a works contractor, filed a return in compliance with Section 153A notice and claimed deduction u/s 80IA, which was not claimed in the original return...

Section 264 empowers Commissioner to revise assessment order to provide relief to assessee in cases of over-assessment, even if assessee did not file revised return....

Validity of revised return filed vis-a-vis claims made thereunder - revised return treated as non-est - the appellant filed his original return otherwise than u/s 139(1)...

Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss...

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

Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

Deduction u/s 54(2) – The date of filing the return u/s.139 of the Act has wide scope - The return can be filed u/s.139(1) or u/s.139(4) of the Act - Both the returns...

Claim of Exemption u/s 54 - there is no prohibition under the Act in claiming exemption u/s 54 in case assessee has not filed a return of income - Such legal claim can...

Claim of expenditure in the revised return - Once, the assessee has realized that the claim was wrongly not made, the assessee has every right to revise the return...

Quick Updates: