Corrected / revised computation of taxable total income filed ...

Case Laws Income Tax

August 29, 2020

Corrected / revised computation of taxable total income filed before ITAT - pleading to admit the fresh claim / additions evidences - Tribunal has rightly held that there is no satisfactory evidence placed before it to substantiate the assessee's plea that they wrongly computed the admitted income. - HC

View Source

← Previous Next →

Corrected / revised computation of taxable total income filed ...

Case Laws Income Tax

August 29, 2020

You may also like:

Income from pension fund u/s 10(23AAB) - CIT(A) admitted the fresh claim - Claim of exemption when the income is taxable u/s 44 - If the assessee failed to revise its...

Claim of expenditure in the revised return - Once, the assessee has realized that the claim was wrongly not made, the assessee has every right to revise the return...

Revised computation v/s revised return of income- Rectified computation of income submitted during the course of assessment proceedings - CBDT Circular states that...

Penalty 271(1)(c) - additions on account of donation and charity, and on account of loss on sale of assets, which were debited to the profit and loss account - The ITAT...

Non admitting assessee’s claim through revised computation - AO was of the opinion that since the original return was filed belatedly, the assesee was not eligible to...

Application of income in the computation of total income of assessee u/s. 11 - claim of assessee in respect to repayment of 'ways and means loan', borrowed during...

Grant received from holding company as capital receipt - AO has not specifically invoked section 56(2). The dubious method adopted by the assessee of claiming the...

Deduction u/s.80IC on the profits - gross total income - Going with the prescription of section 80A(2) of the Act, if the gross total income is more than the aggregate...

Correct head of income - profit on sale of land /immovable property - business income or capital gain income - Correct head of income - profit on sale of land /immovable...

Discontinuance of business - Taxable Income u/s 176(3A) - total income of the assessee under Section 176 (3A), can not be reduced to 12.5% as net taxable profit - HC

Loss from mutilated currency notes claimed as business loss/business expenditure in computation of taxable total income - AO to allow the loss to the extent of 20%

The Income Tax Appellate Tribunal held that the revised return of income filed by the assessee cannot be treated as invalid by the Assessing Officer (AO). Since the AO...

Time limit for filing revised return had already elapsed. - revised computation submitted by the assessee during assessment proceedings - revised computation was rightly...

MAT Computation u/s 115JB - deduction of agriculture income - income from tea growing & manufacturing business - Amount of 40% of the revised composite income as per...

Validity of assessment u/s 153 - When the order of the Tribunal nullifies the total income assessed or determined in the original order of an assessment, it definitely...

Quick Updates: