2nd Wave Extension!

A. Extension of Timelines!

• Application under section 10(23C), 12AB, 35(1) & 80G in Form No. 10A/ Form No.10AB – 31st August, 2021.
• Investment, deposit, payment, acquisition, purchase, construction etc., for claiming any exemption  under section 54 to 54GB falling between 1st April, 2021 to 29th September, 2021  – 30th September, 2021.
• TDS Return 4th quarter of FY 2020-21 – 15th July, 2021.
• Certificate of TDS in Form No.16 for FY 2020-21 – 31st July, 2021.
• Uploading Form No. 15G/15H for 1st quarter of FY 2021-22 – 31st August, 2021.
• Linkage of Aadhaar with PAN – 30th September, 2021.
• Last date of payment of amount under VSVS (without additional amount) – 31st August, 2021.
• Last date of payment of amount under VSVS (with additional amount) – 31st October, 2021.
• Time Limit for passing assessment order which was earlier extended to 30th June, 2021 – 30th September, 2021.
• Time Limit for passing penalty order which was earlier extended to 30th June – 30th September, 2021.
• Objections to DRP & AO under section 144C where last date of filing is 1st June, 2021 or thereafter – 31st August, 2021.
• Statement of Income paid / credited in Form No. 64D for FY 2020-21 – 15th July, 2021.
• Statement of Income paid or credited in Form No. 64C for FY 2020-21 – 31st July, 2021.
• Quarterly Statement in Form No. 15CC for 1st quarter of FY 2021-22 – 31st July, 2021.
• Equalization Levy Statement in Form No. 1 for FY 2020-21 – 31st July, 2021.
• Annual Statement under section 9A (5) in Form No. 3CEK for FY 2020-21 – 31st July, 2021.
• Option to withdraw pending application (before erstwhile IT Settlement Commission) in Form No. 34BB – 31st July, 2021.
• Time Limit for processing Equalization Levy returns – 30th September, 2021.

B. Exemption!
Exemption (in case of death due to COVID and money received as relief in   FY 2019-20 and onwards):

• From Employer – 100% exempt
• From other persons – exempt upto Rs. 10 Lacs

Important Judicial Precedents

1. Notice u/s 148 – reopening of subsequent year on the basis of additions made in the earlier year, which later was deleted by the CIT(A) – Despite such order of CIT(A) was not accepted by the department, reopening is not justified. Late Shri Raj Kumar Wadhwa vs. DCIT – Chandigarh ITAT – ITA No. 1335/Chd/2019 – order dated 14-06-2021
2. Challenge to AO’s jurisdiction to be decided on priority – Allotment of PAN is not a determinative factor to determine jurisdiction of AO- ACIT vs. UV Realtors P. Ltd – Delhi ITAT – ITA No. 6033/Del/2016 -order dated 17-05-2021.
3. It is the duty of the Transfer Pricing Officer to justify selection of the ‘other method’ while rejecting five methods of determination of arm’s length.- Sabic India P Ltd vs. DCIT – Delhi ITAT – 62 CCH 0192 – order dated 08-06-2021.
4. Amendment to disallow contribution of ESI/PF paid after due date in respective Acts is not clarificatory and will apply only prospective from 01-04-2021- Salzgitter Hydraulics P Ltd vs. ITO – Hyderabad ITAT – ITA No. 644/Hyd/2020 – order dated 15-06-2021.