When the AO rejects the revised return then the whole return is ...

Case Laws Wealth-tax

January 13, 2021

When the AO rejects the revised return then the whole return is invalid. In case AO makes addition from the revised return then it means that he recognizes the revised return. Therefore, we reject the contention of the tax authorities to treat the additional wealth declared in revised return as undisclosed wealth. The AO has to reconcile the jewellery found during the search with the return filed u/s 17 and not from the revised return. - AT

View Source

← Previous Next →

When the AO rejects the revised return then the whole return is ...

Case Laws Wealth-tax

January 13, 2021

You may also like:

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...

IT, Estimation of income without rejecting books of accounts is arbitrary, addition made by AO deleted

Non considering the revised return filed by the assessee for rectifying the mistake in claim of depreciation - In this case, the original return was not filed under...

Validity of revised return filed vis-a-vis claims made thereunder - revised return treated as non-est - the appellant filed his original return otherwise than u/s 139(1)...

The issue pertained to the validity of filing a revised return after the prescribed time limit. The High Court set aside the Tribunal's order, stating that after the...

Addition of amount shown in revised return under the pressure of the department - revised return should relate back to the return originally filed, minus the omissions...

Validity of revised return 139(5) - Revised return did not conform to the prescription of section 139(5), before its substitution w.e.f. A.Y. 2017-18, which provided for...

Penalty u/s. 271(1)(c) - If AO accepted the revised return, there was no question of making inadmissible claim of deduction u/s 10B in such revised return. In fact,...

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...

Filing of revised return - time limit for filing of revised return - Rule 7B of Service Tax Rules-1994 - the revenue authorities have failed to consider the aspect of...

Validity of assessment u/s 147 - it is not a return u/s 119(2)(b) albeit it is a return filed in response to notice u/s 148 which has been accepted by the AO. Thus, when...

Revised return u/s 139(5) rejected - Revision in the sales figure - in a case assessee files the revised return then it is to be taken into consideration for the purpose...

Section 264 empowers Commissioner to revise assessment order to provide relief to assessee in cases of over-assessment, even if assessee did not file revised return....

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...

The assessment reopening u/s 147 read with Section 148 was found to be unsustainable due to the lack of independent application of mind by the Commissioner of Income Tax...

Quick Updates: