Home Highlights June 2013 Year 2013 This

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1. Assessment u/s 153A – Invocation of power of revision u/s 263 - Commissioner did not have jurisdiction to initiate any proceedings u/s 263 - HC

2. Revision u/s 263 - The failure to compute assessee’s income u/s 115JB, in our considered opinion, would certainly make the order liable for exercise of revisional...

3. The High Court held that the Principal Commissioner of Income Tax (PCIT) lacked jurisdiction to pass an order u/s 263 of the Income Tax Act in this case. The Assessing...

4. Revision u/s 263 by CIT - As both the issues in question on the basis of which the Pr.CIT had assumed jurisdiction u/s 263 of the Act had been considered and decided in...

5. Judicial discipline - Power of CIT(A) u/s 251 vis a vis CIT u/s 263 - If any part of the income has escaped assessment, it is the jurisdiction of the administrative CIT...

6. Validity of revisionary jurisdiction u/s.263 - the conveyance deed was executed only after the Order of the Charity Commissioner ; that the assessee trust was never in...

7. Revision u/s 263 - TP Adjustment - Where the direction of the DRP have been held to be part of the assessment order, then, there can be no doubt that TP order is also...

8. u/s 263, the AO had not made any addition regarding cash deposits in the assessee company's bank account and unsecured loan received during the year under consideration,...

9. Revision u/s 263 - Revision based on Audit Objection - a mechanical exercise of revisionary powers u/s 263 by the Revisionary Authority by merely citing the Audit...

10. Power of revision u/s 263 - Such a power cannot be equated to, or regarded as approaching in any way the appellate jurisdiction of even the ordinary revisional...

11. The Appellate Tribunal examined the issue of invoking revisional jurisdiction u/s 263 in a case involving receipts of accommodation entries and reopening of assessment....

12. Revision u/s 263 by CIT - Applicability of Higher rate of tax u/s 115BBE on surrendered income - The applicability of the amended provision of section 115BBE of the Act,...

13. 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...

14. Revision u/s 263 by CIT - the assessee had duly explained as to why certain receipts though subjected to TDS, would not be liable to be offered to tax such as...

15. Revision u/s 263 by CIT - Merely on the basis of audit objection powers u/s 263 could not have been exercised. The impugned order u/s 263, does not indicate that the...