TaxTMI 
TaxTMI 
2023 (1) TMI 214
X X X X Extracts X X X X
X X X X Extracts X X X X
....dated 07.09.2018 passed by ACIT, Circle-3, Nainital (hereinafter referred to as AO)and impugned Appellate Order dated 31.07.2020,passed by CIT(A)Haldwani( herein after referred to as CIT(A),Haldwani are bad in law and void ab initio. 1.1 That on the facts and in law the CIT(A) has erred in violating principals of natural justice rendering orders passed by them as bad in law and void ab initio 2. That on the facts and in law the CIT(A) has erred in disallowing Rs 2,41,874 ,claimed under Sec 89(1) ,in holding that relief could not be sought for arrears of salary or receipt of salary in advance, when relief was claimed under Sec 10(10)C( on account of amendment in Law) 2.1 That on the facts and in law the CIT(A) has erred in disallowing ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ompensation receipts in connection with business and employment , leading to base erosion and revenue loss. 13.2 Accordingly, section 28 of the Income-tax Act has been amended to provide that any compensation received or receivable, by any person, whether revenue or capital, in connection with the termination or the modification of the terms and conditions of any contract relating to his business shall also be taxable under the head "Profits and gains of business or profession". Further, section 56 of the Income-tax Act has also been amended to provide that any compensation received or receivable by any person, whether in the nature of revenue or capital, in connection with the termination or the modification of the terms and conditions....
X X X X Extracts X X X X
X X X X Extracts X X X X
....peal is condoned. 4. Brief facts of the case are that, the assessee filed return for the Assessment Year 2016-17 declaring NIL income. Subsequently, the assessee has filed revised return declaring total income of Rs. 37,17,350/- (after availing deduction under Chapter VI (A) the revised return was selected for limited scrutiny and the notice u/s 143(2) was issued. The scope of the scrutiny was limited and the reasons for selection for scrutiny are (i) increase in TDS/TCS claim in the revised return & (ii) large relief claimed u/s 89 of the Act. Subsequently the notice u/s 142(1) of the Act was issued. The assessment order dated 07/09/2018 came to be passed wherein the Ld. A.O. found that the Assessee's third computation of income claiming ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....furnished Form No. 10E and detailed calculation of the relief claimed. On verification of the calculation, the A.O. was of the opinion that the assessee had claimed excess relief over the admissible amount. The AR of the assessee filed revised computation of income in which relief was reduced to Rs. 4,80,720/- wherein the assessee had also claimed exemption u/s 10(10C) of the Act of an amount of Rs. 5,00,000/-. Thus, as per the revised computation the total income of the assessee was reduced to Rs. 32,17,350/- (in place of Rs. 37,17,350/- as disclosed in the revised return). The Ld. A.O. has once again was of the opinion that there was a mistake in calculating the amount of relief claimed u/s 89 at Rs. 4,80,720/-. The Ld. A.O. of the opinio....