Home Highlights September 2016 Year 2016 This

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1. Rectification of mistake - application rejected alleging that assessee is making fresh claim of benefit u/s 12AA - The assessee’s claim of exemption u/s 11 coupled with...

2. The ITAT decision addressed rectification of intimation u/s 154, relating to denial of claim u/s 10(23C)(iiiad) due to non-filing of Form 10BB. The appellant's income...

3. Credit of TDS without filing revised return after assessment - rectification u/s 154 - CIT(A) was fully justified in directing the AO to give credit to TDS on the basis...

4. The case involved rectification of a mistake u/s 154 for denial of exemption u/s 11. The appellant mistakenly classified income as "business income" instead of "income...

5. Exemption u/s 11 - The Assessee did not claim benefit of exemption u/s.11 of the Act before the AO and the AO did not have the benefit of examining such a claim. Mere...

6. This summary concerns the maintainability of a fresh application u/s 94 of the Insolvency and Bankruptcy Code. The appellant had filed an application u/s 94 in 2020,...

7. The ITAT Delhi addressed the issue of rectification of mistake u/s 154 beyond the limitation period. The AO failed to fulfill the statutory duty by not passing an order...

8. Assessment proceedings examined assessee's claim relating to ICDS adjustment made in intimation u/s 143(1). AO issued notices seeking information, assessee provided...

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

10. Rectification application u/s 154 - exemption u/s 10(23)(C)(iiiad) - The scope of Section 154 is very narrow and restricted to only correcting mistakes apparent from...

11. Revision u/s 263 - as per CIT AO had wrongly allowed the assessee exemption of capital gains claimed u/s 54B - Tribunal found that neither any inquiry was made by the AO...

12. AO suo-moto framed the order u/s. 154 and rectified the order - AO framed order u/s. 154 of the Act without affording a reasonable and adequate opportunity of being...

13. Denial of credit of advance tax paid by assessee - filing of application before CBDT u/s 119(2)(b) for condonation of delay in claiming the advance tax credit - AO erred...

14. The appellant filed bills of entry claiming exemption under Notification No. 46/2011-Cus, which was denied during re-assessment. The Commissioner (Appeals) rectified...

15. Denial of exemption u/s 10(25)(ii) - filling of return in the abbreviated name - We are of the considered view that ld. CIT (A) has erred in dismissing the rectification...