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 February 2012 Year 2012 This

Revision u/s 263 - In view of 80IA(7) read with rule 18BBB, ...


CIT Justified in Revising AO Order: Deduction Denied Without Audit Report u/s 80IA(7) and Rule 18BBB.

February 29, 2012

Case Laws     Income Tax     AT

Revision u/s 263 - In view of 80IA(7) read with rule 18BBB, unless audit report of p/y is furnished no deduction is available. - CIT was justified in holding the order of the AO as erroneous in so far as it was prejudicial to the interests of Revenue. - AT

View Source

 


 

You may also like:

  1. Penalty u/s 271B - assessee had failed to get his account audited u/s 44AB - The assessee explained that the delay in furnishing the Audit Report was due to the death of...

  2. The court rejected the petitioner's application for condonation of a 216-day delay in filing their Income Tax Returns (ITRs). The reasons cited by the petitioner, delay...

  3. Validity of show cause notice (SCN) u/s 73 - demand based on improper Audit Report u/s 65(3) - In the present case, what is found from perusal of the show cause notice...

  4. Levy penalty u/s. 271B - not filing tax audit report within the due date specified under the Act - When audit report was obtained within due date, merely for delay in...

  5. Tribunal found assessee had reasonable cause for delay in furnishing Tax Audit Report due to delay in finalization of statutory audit arising from dispute between Board...

  6. Levy of penalty u/s. 271B - default in furnishing of Tax Audit Report - In section 271B of the Act, the only requirement is to get the accounts of assessee audited or...

  7. The assessee had not obtained and furnished the Audit Report from the Accountant within the due date. The Tribunal held that the levy of penalty u/s 271B is not...

  8. Denial of deduction u/s 10AA - assessee contended that filing of Audit Report as required u/s.10AA(8) of the Act, is procedural and directory in nature and thus, for...

  9. Exemption u/s.11 - Denial of exemption audit report in form 10B was not furnished along with the return of income - audit report was filed by the assessee before the...

  10. Levy of penalty u/s 271B - failure to get the accounts audited and furnished the audit report before the specified due date - Statutory auditors appointed by the CA&G -...

  11. Penalty u/s. 271B - delay in obtaining Tax Audit Report - Being a public sector unit, the assessee company after completion of statutory audit under Companies Act is...

  12. Penalty levied u/s 271B - tax audit report - In our view, strained relationship with the earlier CA would constitute reasonable cause. The tax authorities have pointed...

  13. Special audit report u/s 142(2A) - An admitted fact on record that the AO had no occasion to examine the books of accounts furnished by the assessee, which were actually...

  14. Appeal ex-parte decided by CIT-A - AO objected to admission of the additional evidence - Audited financial statements and audited report could not be filed during the...

  15. Penalty imposed u/s. 271B - non filing of audit report within stipulated time - the assessee kept on changing its version for causing delay of filing tax audit report...

 

Quick Updates:Latest Updates