{"id":14528,"date":"2020-12-23T06:45:11","date_gmt":"2020-12-23T06:45:11","guid":{"rendered":"https:\/\/itatonline.org\/digest\/vishwas\/rectification-u-s-154-155\/"},"modified":"2020-12-24T06:19:56","modified_gmt":"2020-12-24T06:19:56","slug":"rectification-u-s-154-155","status":"publish","type":"vishwas","link":"https:\/\/itatonline.org\/digest\/vishwas\/rectification-u-s-154-155\/","title":{"rendered":"Rectification u\/s. 154\/155"},"content":{"rendered":"<p>One of the client has filed an appeal before the CIT for A Y 2009-2010. The hearing is still pending as the case was remanded back to the AO.<br \/>\nThrough oversight application u\/s. 154\/155 was not made within the prescribed limit of 4 years.<br \/>\nLTCG and BP Income are taxed at the same rate by the AO. The said point alongwith others is taken in appeal.<br \/>\nRectification is made in November, 2020, though it was time barred.<br \/>\nQ1 : Whether any alternative is available to the client as they want to go for VSVS as the difference between BP Tax and LTCG Tax is much higher.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of the client has filed an appeal before the CIT for A Y 2009-2010. The hearing is still pending as the case was remanded back to the AO. Through oversight application u\/s. 154\/155 was not made within the prescribed limit of 4 years. LTCG and BP Income are taxed at the same rate by the AO. The said point alongwith others is taken in appeal. Rectification is made in November, 2020, though it was time barred. Q1 : Whether any alternative is available to the client as they want to go for VSVS as the difference between BP Tax and LTCG Tax is much higher.<\/p>\n<p><a href=\"https:\/\/itatonline.org\/digest\/vishwas\/rectification-u-s-154-155\/\">read more<\/a><\/p>","protected":false},"comment_status":"open","ping_status":"closed","template":"","tags":[],"expertname":[6],"class_list":["post-14528","vishwas","type-vishwas","status-publish","hentry","expertname-dr-k-shivaram-sr-advocate"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/vishwas\/14528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/vishwas"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/vishwas"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14528"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14528"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14528"},{"taxonomy":"expertname","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/expertname?post=14528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}