Monthly Archive: May 2020

Employees contribution to PF / ESI contribution-Deposited ‎timely as per section 36(1)(va) or upto due date of filing ITR u/s 139(1)-Law as propounded by case laws is different in different States.

Law as propounded by case laws is different in different States regarding Employees contribution to PF account as well as ESI contribution-Deposited timely as per section 36(1)(va) or upto due date of filing ITR u/s 139(1). Kindly note that…
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2(24)(x), 36(1)(va), 43B, Articles

Case Transferred to AO. This means that the your tax return would be done by ‎the AO instead of the Central Processing Cell. If any assessee gets the above ‎information then either the assessee / through AR or advocate contact to the ‎AO or wait for disposal at the AO end. ‎

Case Transferred to AO. This means that the your tax return would be done by the AO instead of the Central Processing Cell. If any assessee gets the above information then either the assessee / through AR or advocate contact to…
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139, 143(1), Articles

ITAT HYDERABAD on 29th April 2020 held that the sale of the property by the Vendee cum AGPA-holder cannot be considered as sale of property by the assessee when the Vendee has paid the entire sale consideration and has taken possession of the property as the Vendee becomes the owner of the property u/s.53A of the TP Act and u/s.2(47) it is a transfer of the property. Further it is worth noting that except being described as the Vendor, the assessee is neither a signatory to the subsequent Sale Deed nor is he the recipient of any of the sale consideration. In SAMA OM REDDY vs. ITO

ITAT HYDERABAD on 29th April 2020 held that the sale of the property by the Vendee cum AGPA-holder cannot be considered as sale of property by the assessee when the Vendee has paid the entire sale consideration and has taken…
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147, 148, 2(47), 53A of Transfer of Property Act, AY 2012-13, Hyderabad ITAT, In Favour of Assessee

The provisions of Section 263 and various judgments and decisions rendered with regard to ‎Section 263 of the Act. ‎ It is well settled law that for invoking the provisions of section 263 of the Act both the ‎conditions that the order must be erroneous and prejudicial to the interest of revenue ‎needs to be satisfied.‎

Article on section 263

Kindly note Supreme Court in Vodafone Idea on 29th April 2020 held that there is ‎assessment year wise regime in processing of refund u/s 143(1) ‎

CONCLUSION Kindly note Supreme Court in Vodafone Idea on 29th April 2020 held that there is assessment year wise regime in processing of refund u/s 143(1) In respect of Assessment Years ending on 31st March 2017 or before,…
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143(1), 143(1)(a), 143(1C), 143(1D), 143(2), 143(3), 241A, AY 2014-15, AY 2015-16, AY 2016-17, AY 2017-18, In favour of Revenue, Limitation period, Refund, Refund section 143(1), Supreme Court