Home Highlights July 2012 Year 2012 This

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1. Disallowance of exemption claimed u/s 54EC - non filling ROI - investment made in REC - assessee has neither filed return of income u/s 139(1) of the Act, nor in...

2. 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...

3. 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...

4. Exemption u/s 54F - belated filing of return - extended period u/s 139(4) has to be considered for the purpose of utilization of the capital gain amount - AT

5. Exemption u/s 11 - Admittedly, the claim of exemption was made in the revised return filed within the statutory time limit but was treated as defective only on flimsy...

6. Processing of invalid return u/s 143(1) - Denial of exemption u/s 10(23C)(iiiad) - non-filing of ITR-V within 120 days made the assessee’s return as ‘invalid’ being...

7. 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...

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. Cancellation of registration of petitioner - The petitioners are permitted to file their returns for the period prior to the cancellation of registration, if such...

10. Disallowing the claim of exemption u/s 54-F - Belated filing of ITR - capital gain was not deposited by assessee before due date of filing return of income under section...

11. Filing of revised return - denial of loss - Considering the revised return date as belated return, whereas original ITR was filed in time - the intimation under...

12. Filing of belated return in response to notice us/ 153C - the information contained in such belated return can also be considered for completing the assessment - AT

13. Validity of assessment orders passed pursuant to a best judgment assessment - Section 62 of the GST Act - Default in filing of returns - pray for filing of belated...

14. Entitled to the benefit of deduction u/s 80P - belated filing of return of income - It is not justified in denying the benefit of exemption u/s 80P of the Act on the...

15. Levy of penalty u/s 272A(2)(k) - Belated filing of TDS return - On filing the belated returns/statements, Revenue has not suffered any loss because the tax deducted was...