Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights May 2016 Year 2016 This

The assessee wrongly claimed deduction U/s 11 as he did not have ...


Taxpayer's Incorrect Deduction Claim u/s 11; Assessing Officer Must Recalculate Income Per Legal Standards.

May 21, 2016

Case Laws     Income Tax     AT

The assessee wrongly claimed deduction U/s 11 as he did not have registration U/s 12AA of the Act but the ld Assessing Officer has to calculate the real income on the basis of material available with him and is duty bound to assess the correct income as per law. - AT

View Source

 


 

You may also like:

  1. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

  2. Validity of assessment passed w/o intimating u/s 143(1) - Denial of exemption u/s 11 and Claim of Expenses by the CPC - The Appellate Tribunal noted that the return of...

  3. Assessing Officer's findings regarding accumulated unspent funds u/s 11 were set aside due to lack of audited financial statements and return of income for relevant year....

  4. 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...

  5. Allowance of standard deduction u/s 24(a), deduction for actual repairs, and deduction of accumulated income u/s 11(2) in the case of a charitable trust claiming...

  6. Deduction u/s 80G - deductions are duplicate in nature - The non-obstinate clause does not impinge the powers of Assessing Officer to examine deductions claimed after...

  7. Credit of TDS can be granted only when income corresponding to such TDS is assessed to tax in the same financial year. Assessee has the liberty to approach the Assessing...

  8. Determination of income of the trust after denial of the exemptions under section 11 - Once the exemption claimed by the assessee u/s 11 of the Act has been denied, the...

  9. Deduction u/s.35 AD(5)(aa) - whole of capital expenditure incurred for purpose of development of hotel claimed - We restore the issue to file of the Assessing Officer...

  10. Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

  11. Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

  12. Charitable trust registered u/s 12A faced disallowance of benefit of accumulation of funds u/s 11(2) as income was not utilized for the intended purpose. The trust's...

  13. The case pertains to the disallowance of deduction claimed u/s 80IA by an assessee operating two units, one for paper manufacturing and another for power generation. The...

  14. Allowability of accumulation u/s 11(2) of the income assessed u/s 11(3)(c) - the benefit of accumulation shall be available only to the “income derived from the...

  15. The assessee claimed deduction u/s 80P(2)(d) of the Income Tax Act for interest income earned on deposits with a Cooperative Bank. The Assessing Officer and CIT(A)...

 

Quick Updates:Latest Updates