Carry forward of excess application of income over the income - ...

Tribunal Rules No Carry Forward of Excess Income Due to Lack of Previous Year Details in Assessee's Case.

March 22, 2016

Case Laws Income Tax AT

Carry forward of excess application of income over the income - Unfortunately, the details of such income and application of income in the earlier year is not available on record. Therefore, this Tribunal has no other choice except to presume that the income of the assessee was already allowed in the earlier year. Hence, nothing remains to carry forward. - AT

View Source

← Previous Next →

Carry forward of excess application of income over the income - ...

Tribunal Rules No Carry Forward of Excess Income Due to Lack of Previous Year Details in Assessee's Case.

March 22, 2016

Case Laws Income Tax AT

You may also like:

Exemption u/s 11 - Accumulation of income - Carry forward of deficit - Carry forward of excess expenditure carried forward from the earlier assessment years - The...

Carry forward of excess payment of tax as ITC for next year - Allegation of availment of excess input tax credit - . The appellant argued that the net tax payable for...

Disallowance of setting off of the carried forward loss - return filed beyond the due date specified under subsection (1) of section 139 - It was argued that the delay...

Period of limitation for carrying forward of Unabsorbed depreciation loss prior to assessment year - once the Circular No.14 of 2001 clarified that the restriction of 8...

Relief to start-ups in carrying forward and setting off of losses - Relaxation in 51% holding of shares for the purpose of carry forward of losses of eligible star-up...

Carry forward of the depreciation loss - once the Circular No.14 of 2001 clarified that the restriction of 8 years for carry forward and set off of unabsorbed...

Set off of brought forward business loss - mistakes in previous years for not claiming benefit of set-off - 8 years time limit provided in the statute - The ITAT found...

The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

Disallowance of interest and financial expenses was not justified as the appellant paid interest and financial expenses to State Bank of India, Overseas Branch,...

Refund claim - export of goods - excess carried forward in the annual return - Rule 41(4) of the Haryana Value Added Tax Rules, 2003 - no refund was allowed as the...

IBBI has mandated that IPs must include a dedicated section in Information Memorandums detailing carry forward losses under the Income Tax Act, 1961. This enhanced...

Exemption u/s 11 - claim of set off of brought forward expenses and carry forward of current year expenditure incurred in excess of its income for setting off against...

Disallowing the loss u/s 79 - change in shareholding of the assessee company - any loss that is coming from the assessment year 2013-14 is not allowable against the...

Set-off of carried forward depreciation - When such claim could not have been made u/s 32(1), then there is no question of any carry forward of such depreciation for...

Deduction u/s 10B - Here in the case in hand, the total income was first arrived at by the Revenue through the AO in the Assessment Order by computing the total income...

Quick Updates: