Home Highlights November 2017 Year 2017 This

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1. The case involved denial of exemption u/s 11 due to late filing of return. The department argued return must be filed u/s 139(1) to claim exemption u/s 11. An amendment...

2. 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...

3. 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...

4. Deduction u/s 80P - there was a few-month delay in filing the ITR by the assessee and ITR was filed within due date permissible u/s 139(4) of the Act, in which the claim...

5. Claim of deduction u/s 80IC - claim of deduction u/s 80IC to the assessee cannot be denied simply because such a claim was not made in the return field u/s 139 (1)...

6. Deduction u/s. 80IC - belated return filled - if deemed fit, the assessee can still approach the Board for consideration of its case and if the Board finds merit in the...

7. 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...

8. The assessee, a trust registered u/s 12AA, filed its return of income belatedly u/s 139(4) of the Income Tax Act. The issue was whether the trust could avail exemption...

9. Deduction u/s 80P - return of income was not filed within the due date prescribed u/s 139(1) - looking into the totality of facts, we are of the view that claim of...

10. Best judgement assessment - GSTR returns were not filed by the petitioner within the prescribed time limit - At any cost, the right to file the returns cannot be taken...

11. Seeking withdrawal of best judgment assessment orders passed - return filed within (granted extended) time or not - If that were to be so, though the period of 30 days...

12. Carry forward of losses - ITR-V filed belated - Though the contention of the assessee in the said proceedings was that ITR-V was submitted by ordinary post well within...

13. Deduction u/s 54F and 54B - investments were been made after the due date for filing of return of income u/s 139(1) but before the filing of return u/s 139(4) - when the...

14. Penalty u/s.271AAB - Belated filing of regular return after search - Penalty cannot be levied u/s.271AAB of the Act, in respect of income disclosed in regular return of...

15. Deduction u/s 80P(2)(a)(i) was denied by invoking Section 80A(5) as the assessee failed to file a valid return of income as per Section 139. The Tribunal upheld the...