TaxTMI Login
Just a moment...
By creating an account you can:
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All TMI Notes
of of All TMI Notes
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>ITAT Bangalore Rules on Validity of Charitable Trust's Revised Tax Return u/s 154, Stresses Fairness Over Procedure.</h1> The Income Tax Appellate Tribunal (ITAT) Bangalore ruled on a case involving a charitable trust's income tax return processing. The trust filed a NIL income return, later revised to correct errors, but failed to send the revised return's acknowledgment on time. Consequently, the original return was processed, leading to a tax demand. The tribunal addressed issues under Section 154 of the Income Tax Act concerning rectification of mistakes and the validity of revised returns. Emphasizing fairness, the tribunal ruled that procedural lapses should not overshadow justice, remanding the case for correction to prevent undue tax liability. This decision highlights the importance of balancing procedural compliance with fairness in tax administration.
TaxTMI 
TaxTMI 