The case involved denial of exemption u/s 11 due to late filing ...

Exemption u/s 11 allowed for belated return filed u/s 139(4) - CBDT Circular clarifies - ITAT decision supports assessee

Case Laws Income Tax

June 6, 2024

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 clarified return should be filed within time u/s 139. ITAT held the amendment excluded updated returns u/s 139(8) and all other returns were eligible. Assessee filed within time u/s 139(4), so exemption u/s 11 should not be denied. Circular clarified return must be filed within time u/s 139. ITAT relied on precedent that if return is filed before due date u/s 139(4), exemption u/s 11 cannot be denied. Department was directed to allow exemption u/s 11.

View Source

← Previous Next →

The case involved denial of exemption u/s 11 due to late filing ...

Exemption u/s 11 allowed for belated return filed u/s 139(4) - CBDT Circular clarifies - ITAT decision supports assessee

Case Laws Income Tax

June 6, 2024

You may also like:

Exemption u/s 11 - assessee has not e-filed or not filed return within due date - The NFAC/Ld.CIT(A) ruled in favor of the Assessee, stating that the CBDT circular...

Exemption u/s. 11 - Belated filing of income tax return (ITR) and form 10B - once return of income has been filed within the time prescribed u/s 139(4) of the Act,...

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...

The ITAT Ahmedabad considered a case involving exemption u/s 11 for a trust with a belatedly filed income return. The tribunal held that the trust, registered u/s 12AA,...

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...

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...

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...

Rectification of mistake u/s 154 - belated return u/s 139(4) - Subsequently revised - request of rectification based on revised return - not permissible as belated...

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

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...

Exemption claimed in the revised return filed u/s 139(5) – When the assessee filed its original return of income at that time, assessee was not granted registration u/s...

Section 80P deduction claim filed in a return submitted in response to notice u/s 142(1) is valid. The Income Tax Act does not mandate that the return must be filed u/ss...

Deduction u/s 80-IB - failure to file return u/s 139(1) within stipulated time - Benefit of deduction cannot be allowed based on the basis of belated return filed u/s 139(4) - HC

Disallowance of deduction u/s. 54B - Belated filing of return - Due date for furnishing the return of income as per section 139(1) is subject to the extended period...

Belated payment of GST after due date of filing return u/s 139(1) - disallowance u/s 43B - assessee's failure to discharge statutory dues by actual payment within due...

Quick Updates: