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 August 2019 Year 2019 This

Deemed application of income u/s 11(1), Explanation 2 - although ...

Case Laws     Income Tax

August 3, 2019

Deemed application of income u/s 11(1), Explanation 2 - although the Assessee did not give the intimation at the time of filing the original returns, admittedly, the intimation was enclosed with the revised return - no error having been committed by the ITAT in holding this issue in favour of the Assessee

View Source

 


 

You may also like:

  1. Failure to file Form 10/10B before due date prescribed u/s 139(1) cannot be fatal to deny exemption u/s 11(2), especially when Form 10/10B was available on record when...

  2. Denial of exemption u/s 11 was challenged due to alleged violations of Sections 13(1)(d), 13(2)(h), and 13(1)(c) of the Income Tax Act. The key points are: Section...

  3. The Delhi High Court addressed the issue of deduction u/s 11(1) concerning accumulation of 15% of deemed income. The court noted that Explanation 2, inserted by the...

  4. Adjustment made to the income returned in the intimation made by the CPC u/s 143(1) - exemption u/s 11/12 denied as assessee had failed to furnish the necessary Form 10B...

  5. Exemption u/s 11(1)(a) and Section 11(2) for Deemed income u/s 11(3) - Assessee would be allowed to accumulate the income if there is “real income” which is in...

  6. Exemption u/s 11 - Accumulation of income - The money referred in Clause (b) (ii) is one accumulated or set apart. Meaning thereby that even if 85% of the income...

  7. The assessment u/s 143(1) was invalid as the procedure laid down u/s 144B was not followed. The case was selected for regular assessment, but the assessee was not given...

  8. Benefit of accumulation of income u/s.11(2) - denial of claim on non-submission of Form No.10 along with return of income - In this case, the assessee claims that...

  9. Validity of assessment order - Discrepancy Nos. 1, 2, 10, and 11: The discrepancies include issues such as non-GST supplies, alleged mismatch between GSTR-3B and GSTR-1...

  10. Validity of adjustments made in an intimation u/s 143(1) of the Income Tax Act, where there was a mismatch between the income tax return and the tax audit report filed...

  11. Revision u/s 263 - Accumulation of income u/s 11(2) - Deemed income accumulation - debatable issue - As categorically explained that deemed income charged u/s. 11(3) is...

  12. Exemption u/s 11 - Deemed income - Permissible Adjustment to be made by the CPC u/s 143(1) - The benefit of deduction of the deemed income specified u/s 11(3) is...

  13. Revision u/s 263 by CIT - disallowance of exemption claimed in respect of accumulation of income u/s 11(2) - insofar as the impugned assessment year is concerned, there...

  14. The ITAT Delhi held that the merger of intimation/proceedings u/s 143(1) with regular assessment u/s 143(3) results in the intimation losing relevance once regular...

  15. 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...

 

Quick Updates:Latest Updates