Section 139(4)

Amended Due date of Filing of Belated return or Revised return

Income Tax - Major amendment pertaining to Due date of Filing of Belated return or Revised return Rationalisation for Reducing time to file belated return and to revise original return and its effect on other provision of Income Tax With the massive technological upgrade in the Department where the processes under the Act are moving towards becoming f...

Extending dates for filing belated & Revised IT Returns for AY 2020-21

Income Tax - Direct Taxes Professionals’ Association has made a representation to Hon’ble Finance Minister, Mrs. Nirmala Sitharaman, and requested for extending dates for filing belated and Revised IT Returns for AY 2020-21 and for furnishing Form 10A for fresh Registration under section 12AB and exemption under section 80G of the Income Tax Act, ...

CBDT Extends Time Limits for Various Direct Tax Compliances – AY 2021-22

Income Tax - The Central Board of Direct Taxes after considering the severe continuing COVID-19 pandemic situation in the country, vide Circular No. 9 of 2021, dated 20 May 2021, has extended the deadlines of certain compliances for the Assessment Year 2021-22...

Extension of Time Limits of Various Income Tax Compliances

Income Tax - In the wake of the pandemic Covid-19 and in the interest of taxpayers, the Central Board of Direct Taxes (CBDT) extended time limits for various compliances as under: 1. Statement of Financial Transactions (SFT) & Statement of Reportable Account (SRA):Due Date of SFT and SRA for the FY 2020-2021 has been extended from 31st May 2021 [...

आयकर से सम्बंधित बढाई गई मुख्य तिथिया

Income Tax - सरकार द्वारा कोरोना महामारी को देखते हुए आयकर से सम्बंधित विभिन्न तिथियों को बढ़ा दिया है जिससे करदाताओ को राहत मिलेगी आयकर से सम...

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Assessee failed to Submit details: ITAT Restores Section 54F Deduction Matter

Salma Ahmed Vs ITO (ITAT Chennai) - ITAT Chennai restores the matter of Salma Ahmed's capital gain deduction under section 54F to CIT(E) due to inadequate details provision by the assessee....

Section 54F Exemption Eligibility on New House Purchase Investment within belated return due date

Kusumben Amritlal Sanghavi Vs DCIT (ITAT Rajkot) - Requirement to deposit net consideration as per Section 54F(4) not attracted if assessee has purchased a new residential house within due date specified under Section 139(4)...

Adjustment u/s 143(1)(a) by disallowing exemption u/s 11 without prior intimation is unjustified

ITO Vs Camellia Educare Trust (ITAT Kolkata) - ITAT Kolkata held that in respect of any adjustment proposed to be made u/s 143(1)(a), a prior intimation is required to be served on the assesse. Failure to issue such prior intimation to the assessee before making an adjustment by way of disallowing the claim of exemption u/s. 11 of the Act is unj...

Changes in section 139(4) & 139(5) by Finance Act 2016 not retrospective

Qayum Ismail Mukaddam Vs CIT (ITAT Mumbai) - Insightful analysis of the ITAT Mumbai ruling in the case of Qayum Ismail Mukaddam Vs CIT, where the applicability of changes in sec 139(4) & 139(5) by Finance Act 2016 is discussed....

Denial of exemption u/s 11 justified as audit report in Form 10B filed beyond specified date

Jain Shwetamber Murtipujak Sangh Vs ITO (Exemption) (ITAT Raipur) - ITAT Raipur held that exemption under section 11 of the Income Tax Act duly denied to trust as audit report in Form 10B e-filed/ uploaded beyond the date specified u/s 139 of the Income Tax Act....

Income Tax Return, Tax Audit due date & Other dates extended

Circular No. 9 of 2021 - Income Tax - (20/05/2021) - The due date of furnishing of Return of Income for the Assessment Year 2021-22, which is 31st July 2021 under sub-section (1) of section 139 of the Act, is extended to 30th September 2021; 10) The due date of furnishing of Report of Audit under any provision of the Act for the Previous Year 2020-...

CBDT notifies Prescribed Income-tax Authority’ under Section 143(2) for Returns

Notification No. 25/2021-Income-tax [S.O. 1437(E).] - (31/03/2021) - CBDT hereby authorises the Assistant Commissioner of Income-tax/Deputy Commissioner of Income-tax (NaFAC) having her / his headquarters at Delhi, to act as the ‘Prescribed Income-tax Authority’ for the purpose of sub-section (2) of section 143 of the Act, in respect of returns furnished under se...

Recent Posts in "Section 139(4)"

Assessee failed to Submit details: ITAT Restores Section 54F Deduction Matter

Salma Ahmed Vs ITO (ITAT Chennai)

ITAT Chennai restores the matter of Salma Ahmed's capital gain deduction under section 54F to CIT(E) due to inadequate details provision by the assessee....

Section 54F Exemption Eligibility on New House Purchase Investment within belated return due date

Kusumben Amritlal Sanghavi Vs DCIT (ITAT Rajkot)

Requirement to deposit net consideration as per Section 54F(4) not attracted if assessee has purchased a new residential house within due date specified under Section 139(4)...

Adjustment u/s 143(1)(a) by disallowing exemption u/s 11 without prior intimation is unjustified

ITO Vs Camellia Educare Trust (ITAT Kolkata)

ITAT Kolkata held that in respect of any adjustment proposed to be made u/s 143(1)(a), a prior intimation is required to be served on the assesse. Failure to issue such prior intimation to the assessee before making an adjustment by way of disallowing the claim of exemption u/s. 11 of the Act is unjustified....

Changes in section 139(4) & 139(5) by Finance Act 2016 not retrospective

Qayum Ismail Mukaddam Vs CIT (ITAT Mumbai)

Insightful analysis of the ITAT Mumbai ruling in the case of Qayum Ismail Mukaddam Vs CIT, where the applicability of changes in sec 139(4) & 139(5) by Finance Act 2016 is discussed....

Denial of exemption u/s 11 justified as audit report in Form 10B filed beyond specified date

Jain Shwetamber Murtipujak Sangh Vs ITO (Exemption) (ITAT Raipur)

ITAT Raipur held that exemption under section 11 of the Income Tax Act duly denied to trust as audit report in Form 10B e-filed/ uploaded beyond the date specified u/s 139 of the Income Tax Act....

Charging tax on entire gross receipts without deducting expenditure is unjustifiable

H M V Educational Cultural & Social Trust Vs ITO (ITAT Bangalore)

ITAT Bangalore held that charging the income tax on the entire gross receipts without giving effect of the expenditures incurred by the assessee towards earning of the income....

ITAT’s Powers to Admit Claim Otherwise than by Revised Return

Navneet Dutta Vs ITO (ITAT Delhi)

Navneet Dutta Vs ITO (ITAT Delhi) Assessee filed his original return of income on 10.01.2012 for the AY 2011-12 and in the said return due to clerical/typographical error, the assessee could not claim loss from house property. Later on the assessee revised the return of income on 18.06.2012. Assessee has filed rectification application u/...

Filing of Form No. 67 is a procedural directory requirement in nature

Satreena Consultants Pvt. Limited Vs ITO (ITAT Kolkata)

ITAT Kolkata held that filing of Form 67 is directory in nature. Accordingly, benefit of relief of withholding tax credit in Tanzania against the tax liability arising in India allowed....

Capital gain exemption u/s 54 not deniable as investment made within time limit specified u/s 139(4)

Munish Babaji Sawant Vs ITO (ITAT Mumbai)

ITAT Mumbai held that capital gain exemption under section 54 of the Income Tax Act cannot be denied as investment was made within the time limit specified under section 139(4) of the Income Tax Act....

Income Tax return filed belatedly cannot be revised under section 139(5)

Vijay Channabasav Suttatti Vs ACIT (ITAT Pune)

Income Tax Return revision right under section 139(5) was denied and not at all available to assessee who has filed belated return under section 139(4)....

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