Please Help: Income Tax (Section 10A/10B)
Posted Date : 25-Jan-2012 , 02:04:00 pm | Posted By ANKUR JAIN
Assessee is STPI unit and claimed exemption under section 10B instead of Section 10A. AO disallowed the exemption. Can we claim the said exemption under section 10A in CIT appeal. Please suggest with reference to case laws, If possible.
Category : Income Tax | Answers : 3 | Comments : 1 | Hits : 753
Answers
Answer By: lavina bajaj
1. firstly if the return was furnished well in time than u can revise your return and intimate the AO about the said change. since you have not hide the fact related to STP unit so it will be aloowed in any manner.
2. if the option to revise the return has been lapsed than you can make an appeal to the CIT (A).
2. if the option to revise the return has been lapsed than you can make an appeal to the CIT (A).
Answer By: lavina bajaj
While drafting the appeal, a lot of care should be taken, so as to include all the grounds, therein. Though the Commissioner of Income-tax (Appeals) or, the Appellate Tribunal has the powers to entertain additional grounds, the same can be raised, only, before the disposal of the appeal and, with the permission of the appellate authority. For admission of the additional grounds, the person must have adequate reasons for not raising the ground at the time of filing the appeal.
Grounds of appeal :
(i) The contents thereof should be specific, indicating the issue on which relief is sought.
(ii) Common or basic ground, such as on violation of principle of natural justice etc. that is material to the validity of the order itself, should be taken up first.
(iii) In respect of each issue, there can be one or more grounds; however, in case they are more than one, they should be taken up sequentially one after the other.
(iv) Separate and independent ground should be taken for different issues to facilitate its disposal by the appellate authority in the manner provided in S. 250(6).
(v) It is desirable and convenient if the issues are incorporated in the Grounds of appeal in the same chronological order, as these are dealt with in the order appealed against.
Statement of facts :
The statement of facts should also be in the same order as the issues taken in the grounds. The statement of facts should be in details, but should not be used to introduce additional evidence.
Grounds of appeal :
(i) The contents thereof should be specific, indicating the issue on which relief is sought.
(ii) Common or basic ground, such as on violation of principle of natural justice etc. that is material to the validity of the order itself, should be taken up first.
(iii) In respect of each issue, there can be one or more grounds; however, in case they are more than one, they should be taken up sequentially one after the other.
(iv) Separate and independent ground should be taken for different issues to facilitate its disposal by the appellate authority in the manner provided in S. 250(6).
(v) It is desirable and convenient if the issues are incorporated in the Grounds of appeal in the same chronological order, as these are dealt with in the order appealed against.
Statement of facts :
The statement of facts should also be in the same order as the issues taken in the grounds. The statement of facts should be in details, but should not be used to introduce additional evidence.
Answer By: lavina bajaj
The Supreme Court in CIT vs. Calcutta Discount Co. Ltd., (1973) 91 ITR 8 (SC) observed that in considering an appeal the Appellate Authority should deal with the substance of the matter at issue and not be unduly influenced by mere procedural technicalities, for example, whether the memo of appeal was or was not in proper form etc.
Comments
ANKUR JAIN
27-Jan-2012 , 05:34:58 pmDear Lavina Thank you for reply. The option to revise the return is lapsed since, AO disallowed the exemption and assessment is over. Further, appeal to CIT is also filed. Please suggest whether can we claim said exemption under section 10A in CIT appeals. Please suggest with reference to case laws.