Proceedings initiated u/s 148, assessee did not file return of ...

Assessee's failure to file return led to proceedings u/s 148. Assessment order set aside on condition of paying costs. Petitioner to reply to show cause, respondents to provide portal access.

Case Laws Income Tax

July 18, 2024

Proceedings initiated u/s 148, assessee did not file return of income. Petitioner stated undisclosed interest income, annexed income computation statement, tax paid challan, sale deed, bank statements. Assessing officer noted sale deed, interest income contention but failed to consider challan, TDS. Assessee's failure to reply to show cause notice. Assessment order set aside on condition of paying Rs. 15,000 costs to Tamil Nadu State Legal Services Authority within two weeks. Petitioner permitted to reply to show cause notice, respondents directed to provide portal access.

View Source

← Previous Next →

Proceedings initiated u/s 148, assessee did not file return of ...

Assessee's failure to file return led to proceedings u/s 148. Assessment order set aside on condition of paying costs. Petitioner to reply to show cause, respondents to provide portal access.

Case Laws Income Tax

July 18, 2024

You may also like:

Reopening of assessment u/s 147 - When the A.O. admits in the notice under section 142(1) Dated 20.10.2014 that assessee filed return of income under section 148 of the...

Non-filer assessee had taxable income but failed to file return u/s 139(1), later filed return in response to notice u/s 148 without considering section 50C provisions,...

Reopening of assessment u/s 147 where assessment proceedings already pending - Unless the return of income already filed is disposed of, the notice for reassessment u/s...

Reopening of assessment u/s 147- non-issue of notice u/s. 143(2) - Non filing of ITR within thirty days after issue of notice u/s. 148 - though the assessee did not file...

Validity of notice proposing for Best Judgement assessment u/s 144 - Failure to file ITR in response to notice u/s 148 r.w.s. 142(1) due to medical reasons and recovery...

Penalty u/s 271(1)(c) - assessee in response to the notice u/s 148 has offered capital gain and paid taxes thereon - Going by the language of section 148, that any such...

Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

Penalty u/s 271(1)(c) - Assessee filed return of income in response to notice u/s 148 - No difference between returned income and assessed income - Assessee voluntarily...

Charging interest u/s 234A, 234B and 234C - late filing of return of income - CIT(A) was not right in levying interest under Section 234A of the Act when the return was...

The High Court rejected the condonation of delay in filing income tax returns, as the returns were handled by a Chartered Accountant who could not take timely steps due...

Deduction u/s. 80IB(10) - non filling of return on time - the ITAT held that the return filed beyond the due date cannot claim deduction under section 80IB(10) as per...

Penalty u/s 271F - Failure to file the ITR before the due date - No doubt, the assessee has failed to furnish the return of income u/s 139(1) of the Act, but when the...

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...

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...

Penalty u/s 271(1)(c) was imposed despite the assessee withdrawing the exemption claim u/s 10(38) for Long Term Capital Gain (LTCG) on sale of penny stocks and offering...

Quick Updates: