Condonation of delay in filing GSTR-3B returns and entitlement to Section 62 benefit results in withdrawal of assessments and revocation of attachment...
Penalty for estimation of income and disallowances for tax non-deduction clarified: estimation-based penalties not sustainable; additions without conc...
In reassessment proceedings under s.147, issuance of notice under s.143(2) was held not mandatory where no return was filed in response to notice under s.148; the challenge to reassessment on this ground was rejected. Professional fees were held not taxable on accrual where the assessee consistently followed cash basis and the amounts, though reflected in Form 26AS with TDS, were not actually received during the relevant year; the addition was directed to be deleted. Deduction under Chapter VIA was directed to be allowed since it had been accepted in original and reassessment proceedings and supporting evidence was on record. - ITAT
In reassessment proceedings under s.147, issuance of notice under s.143(2) was held not mandatory where no return was filed in response to notice under s.148; the challenge to reassessment on this ground was rejected. Professional fees were held not taxable on accrual where the assessee consistently followed cash basis and the amounts, though reflected in Form 26AS with TDS, were not actually received during the relevant year; the addition was directed to be deleted. Deduction under Chapter VIA was directed to be allowed since it had been accepted in original and reassessment proceedings and supporting evidence was on record. - ITAT
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