Home Highlights August 2014 Year 2014 This

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1. Revision u/s 263 - penalty proceedings u/s 271AAB(1A) - The mandate under section 263 of the Act do not give any power to CIT to impose his satisfaction over the...

2. Revision u/s 263 - Assessment u/s 153C - revision of invalid assessment - the present proceedings being collateral proceedings and if the assessment order is inherently...

3. Revision u/s 263 - PCIT partially looking into the assessment records and initiated the Revision proceedings on the ground that the assessee failed to submit evidences...

4. Revision u/s 263 to impose a penalty u/s 271(1)(c) - CIT merely set aside the assessment order in its entirety and remanded the case for a fresh consideration by the...

5. Revision u/s 263 - at the time of exercise of jurisdiction under Section 263, admittedly, proceedings before AAR was pending on the issue of taxability of receipts from...

6. Revision u/s 263 - The argument of the petitioner that the assessment order was not prejudicial to the interest of revenue and therefore the proceeding under Section 263...

7. Validity of assessment passed u/s 153A pursuant to search and seizure - The High Court has observed and held that, the assessee’s assessment for the relevant year stood...

8. Revision u/s 263 - period of limitation for passing order - Only in a case where the issues before the Commissioner at the time of exercising powers u/s 263 relate to...

9. Revision u/s 263 - Invocation of revision proceedings for the second time - As pertinent to point out that there was no bar on limitation by the ld. PCIT to invoke...

10. Revision u/s 263 - AO did not initiate penalty proceedings u/s. 271(1) (c) - No hesitation in holding that the CIT is not correct in assuming jurisdiction u/s 263 of the...

11. Validity of revision proceedings u/s 263 - Adoption of either of view by AO - allowability under section 36(1)(viia) - The court concludes that the original assessment...

12. Revision u/s 263 - disallowance u/s 36(1)(iii) - Since the issue under consideration during the assessment proceedings was only confined to the disallowance of interest...

13. Validity of Assessment u/s 153A - in cases where the assessment or reassessment proceedings have already been completed and assessment orders have been passed, which...

14. Revision u/s 263 by CIT - unaccounted sales/purchases - AO took a view which was legally plausible and possible at that point of time. Subsequent information could be a...

15. Revision u/s 263 by CIT(A) - it appears from record, the AO during the assessment proceedings has made enquiries on all these issues, though, it may not have been...