Income Tax : Learn the updated provisions governing rectification, assessments, reassessments, and appeals under the Income-tax Act. This guide...
Income Tax : The Income Tax Department explains how faceless assessments under Section 144B operate through the e-Filing portal without requiri...
Income Tax : Section 154 permits rectification of mistakes apparent from the record in assessment orders, intimations, and TDS/TCS processing s...
Income Tax : A detailed overview of limitation periods prescribed under the Income-tax Act reveals how missing statutory deadlines can lead to ...
Income Tax : Judicial rulings clarify that Section 54 focuses on timely investment of capital gains, not rigid legal ownership milestones. The ...
Income Tax : KSCAA has made a Representation on Challenges in Income Tax Related to Rectification Proceedings, Order Giving Effect, Delay in P...
Income Tax : Even after due efforts taken by the Government to ensure compliance relating to filing of TDS returns by the deductors, the defaul...
Income Tax : Taxpayers who are not satisfied with the outcome of processing of their Income Tax Return by the Centralized Processing Centre, Be...
Income Tax : Department introduces new facility for online submission of rectification request in cases where processing was completed by CPC B...
Income Tax : High Court restrained tax recovery, holding the Section 154 order prima facie breached natural justice by withdrawing exemption wi...
Income Tax : ITAT held that Section 154 cannot be used where applicability of Section 167B requires factual examination, making the issue debat...
Income Tax : ITAT directed the AO to verify Form 26AS and the corresponding income before deciding the TDS credit claim instead of denying it o...
Income Tax : ITAT Mumbai held that the CPC could not withdraw an already allowed Section 10AA deduction through rectification without recording...
Income Tax : The ITAT Delhi held that deduction of TDS by the payer does not by itself establish that income has accrued to the recipient. It r...
Income Tax : Taxpayers who are not satisfied with the outcome of processing of their Income Tax Return by the Centralized Processing Centre, Be...
Income Tax : Instruction No. 02/2016 Section 154 of the Act mandates that rectification order shall be passed in writing by the Income Tax auth...
Income Tax : Instruction No. 01/2016 section 154 stipulates that where application for amendment is made by assessee/deductor/collector with a...
Income Tax : 225/148/2015-ITA-II Expeditious disposal of applications for rectification under section 154 of the Income-tax Act, 1961 (Act) dur...
Income Tax : INSTRUCTION NO. 3/2013 Hon'ble Delhi High Court vide Judgment in case of Court On its Own Motion v. UOI and Ors. in W.P. (C) 2659/...
Dhanesh Kumar Jain Vs ACIT (ITAT Delhi) In this case Assessee by mistake not claimed deduction u/s. 57(iv) of Income Tax Act, 1961 i.e. @ 50% of interest on compensation that was received by Assessee on acquisition of his agricultural land by Land Collector. ITAT held that mistake, was in the nature of a mistake […]
P.S. Jagdish Vs DCIT (ITAT Chennai) We noted that the return of income filed by the assessee was processed by CPC, Bengaluru and intimation u/s.143(1) of the Act was issued on 05.03.2012 (which is not disputed by Revenue). Admittedly, the AO passed rectification order on 20.06.2016. The claim of the assessee is that the rectification […]
New Vision Net to Home (P) Ltd Vs ITO (ITAT Delhi) The assessee noticed the error in its computation of fringe benefits and moved a rectification application which was denied by the AO who was of the opinion that the online filed ITR cannot be rectified u/s.154. We have carefully considered the grievance of the […]
Nikhil Mohine Vs DCIT (ITAT Jabalpur) Sec. 43B(b) does not include the employee contribution, and even regarding so is to no avail, rendering the Explanations under reference, even as suggested by their express language, explanatory. An examination of the Notes on Clauses to, and the Memorandum explaining the Provisions of, Finance Bill, 2021, however, resolves […]
The quantification of loss, which is well beyond the limited scope of ‘mistake apparent on record’ under section 154], could not have been disturbed in the proceedings under section 154, and what cannot be done under section 154, cannot be done under section 263 r.w.s. 154 either.
Today we are going to consider problem based on provisions of Sections Sections 154, 264 & 263 of the Income Tax Act, 1961. PROBLEM :- Assessment of X Ltd., is completed under Section 143(3) with an addition of Rs. 15.00 Lakhs to the returned income. The assesses-company goes in an appeal before CIT (Appeals). Which […]
Union Bank of India Vs DCIT (ITAT Mumbai) We find that AO has withdrawn, the relief granted u/s. 14A in the assessment order by mentioning that subsequently order of Hon’ble Supreme Court in Maxopp Investment Ltd. 402 ITR 640 has come. Accordingly, he has effectively made the disallowance us/.14A u/s 154 of the Act. We […]
Rakesh Agarwal Vs ITO (Calcutta High Court) The Court:-The petitioner has challenged the impugned order dated 20th December, 2011 rejecting the petitioner’s application under Section 154 of the Income Tax Act, 1961 for rectification of the alleged mistake in the order dated 22nd December, 2011 passed under Section 264 of the Act on the ground […]
On commencement of regular assessment proceedings u/s 143(2) of Act , there is no need for intimation u/s 143(1)(a)(i) Where the summary procedure under section 143(1)(a)(i) has been adopted, there is scope available for the revenue to make assessment u/s 143(3) of the Act. But the converse is not available. A regular assessment proceeding having […]
Navodaya Education Trust Vs DCIT (ITAT Bangalore) it is submitted that the CPC, Bengaluru made the impugned adjustment in its intimation u/s 143(1), erroneously and as such the same was rectifiable as per the provisions of section 154. The CIT(Appeals) has erred in confirming the the same and rejecting the rectification application filed by the […]
