Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

AO could consider claim of deduction made under wrong section without asking assessee to file revised return: HC

Where claim for a deduction is made under a wrong provision but necessary facts for said claim to be set up are available in return, in such a case, Assessing Officer can consider such a claim without revised return being filed by assessee

Where assessee claimed deduction of sec. 80G in respect of amount given to a charitable trust for air-conditioning of a town hall owned by local authority, since said trust merely acted as an agent of assessee and it could not utilise amount in question for charitable purpose for which it was established, claim raised by assessee was to be rejected

Refer:[2018] 96 498 (Kerala)

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