Tax liability confirmed while processing of return of income by ...

Case Laws Income Tax

August 29, 2022

Tax liability confirmed while processing of return of income by CPC - wrong reporting of income - whether relief could be claimed only by filing revised return for which statutory timeline has already expired? - the addition has been made only due to wrong reporting of income by the assessee which cannot be sustained. Therefore, in our opinion, the Ld.CIT(A) has committed an error in dismissing the appeal filed by the assessee. Accordingly, we allow the Assessee’s Grounds of Appeal No. 1 and 2. - AT

View Source

← Previous Next →

Tax liability confirmed while processing of return of income by ...

Case Laws Income Tax

August 29, 2022

You may also like:

CBDT extends due date for filing Income Tax Returns and Tax Audit Reports

Deduction u/s 80P - Failure to file Tax Audit Report - assessee did not submit the audit report as per section 63 of the Karnataka State Co-operative Society Act, 1959 -...

The taxpayer filed an original return which was processed by the CPC. Subsequently, a revised return was filed u/s 139(5) with a self-assessment tax of Rs. 10,820/-....

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...

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...

Voluntary Reporting of Estimated Current Income and Advance Tax Liability - CBDT issues draft notification

The Appellate Tribunal (ITAT) considered whether the Central Processing Centre (CPC) was justified in denying the benefit of the New Tax Regime to an individual taxpayer...

Annual Return on Foreign Liabilities and Assets Reporting by Indian Companies

Validity of manual revised returns filed - scheme of demerger approved - scheme of arrangement approved by NCLT required Petitioner and Hind Lamps to file revised...

The CPC correctly processed the return of income u/s 143(1)(a)(ii) read with Explanation (a)(i) and (a)(ii). The assessee failed to report agricultural income of Rs....

Disallowance of expenditure indicated in the audit report but not taken into account in computing the total income in the return - Additions while processing ITR u/s...

The assessee admitted certain income amounts under different heads like income from house property and income from other sources while filing the return. However, the...

Rejection of rectification petition - turnover of the petitioner was erroneously reported in the GSTR 1 return - The High Court acknowledges the petitioner's claim...

The ITAT Pune dealt with a case involving denial of standard deduction and Chapter VIA deductions u/s 80C. The appellant, an individual earning income under the head...

Deduction u/s. 80-IA - Claim denied as return of income was not accompanied by the mandatory audit report as prescribed in Form No.10CCB - assessee has filed an audit...

Quick Updates: