Home Highlights August 2018 Year 2018 This

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1. Amendment of section 249. - time limit for filing an appeal - where the assessee makes an application under section 270AA of the Income-tax Act seeking immunity from...

2. Immunity u/s 270AA - Period of limitation for filing an application - Penalty proceedings u/s 270A - The proviso to Sub-section(4) of Section 270AA of the Act makes it...

3. Revision Petition filed u/s 264 of the order passed by AO u/s 270AA(4) - The provision does not provide for any bar or prohibition against the assessee challenging an...

4. Insertion of new section 270AA - Immunity from imposition of penalty, etc. - an assessee may make an application to the Assessing Officer for grant of immunity from...

5. immunity from imposing penalty u/s 270AA - Penalty u/s 270A for failure to file the return of income (ITR) - Under Section 270 AA of the Income Tax Act, immunity from...

6. Petitioner filed application seeking sanction of eligible refund amount along with applicable interest. Court held that respondent shall process petitioner's application...

7. Maintainability of application - in any case the definition of advance ruling does not permit making of an application in relation to the supply of services already...

8. Loss of immunity from Penalty u/s. 271AAA - Delay in payment full tax as per the order of Settlement Commission (ITSC) - DR in argument mentioned that the assessee had...

9. Relevant date for filing application by Personal Guarantor as well as Creditor - relevant time from which moratorium shall come into force - when shall the application...

10. Penalty u/s 270A - “underreporting” of income - right to be granted immunity under Section 270AA - In the present case, the petitioner has satisfied the aforesaid...

11. This case pertains to the imposition of penalty u/s 270AA for under-reporting of income due to misreporting. The assessee had availed interest-bearing loans and advanced...

12. The High Court dismissed the petition seeking rectification of mistake in filing the wrong income tax return (ITR) format, as the assessee had full knowledge of filing...

13. The Delhi High Court analyzed the levy of penalty u/s 270A for under-reporting and misreporting of income. The court emphasized that under-reporting and misreporting are...

14. Rectification u/s 154 - incorrect carry forward of loss - We reserve liberty to the assessee to file an application under Section 119(2)(b) of the Act before the...

15. Application for recalling of Ruling - Classification of goods - The interesting fact is the applicant has approached the Authority only in respect of the current...