Home Highlights June 2013 Year 2013 This

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1. Reopening of assessment u/s 147 - validity of sanction as accorded by PCIT - the Commissioner is required to apply his mind to the proposal put up to him for approval in...

2. Reopening of assessment u/s 147 - non independent application of mind by AO - Scope of borrowed satisfaction - The Appellate Tribunal found that the reopening was solely...

3. Revision u/s 263 - Merely because that the AO did not discuss these details in the assessment order does not mean that he has not applied his mind.

4. Reopening of assessment u/s 147 - There is no indication of any application of mind by the authority. Moreover, the approval under Section 151 of the Act had to be...

5. Reopening of assessment u/s 147 was invalid due to procedural irregularities. The Assessing Officer initiated proceedings without verifying information and the...

6. Validity of revision u/s 263 regarding eligibility for deduction u/s 80P(2)(d) on interest income from deposits with a cooperative bank was examined. It was held that...

7. Revenue appeal - there is no application of mind by the Committee of Commissioners and they have merely appended their signatures to the note sheets prepared by the...

8. Reopening of assessment - Validity of approval granted by the CIT - earlier Revision u/s 263 dropped - Notwithstanding this order passed by the Principal Commissioner of...

9. Claim of interest expenditure on loan - put to use - Tribunal was right in allowing the appeal filed by the assessee and holding that the term “put to use” applies to...

10. Maintainability of appeal - approval committee did not consist of two Chief Commissioners of Central Excise - The said power is exercised by the Committee of Chief...

11. Estimation of business income - The learned CIT (A) confirmed addition merely harping on non-compliance by assessee before the Assessing Officer and not applying his...

12. Release of seized goods - Drones - the Commissioner (Appeals) has taken a correct view after applying his mind so as to release the goods for immediate use so that the...

13. Reopening of assessment u/s 147 - Whether the PCIT applied his mind while granting approval? - Senior officers like ACIT and PCIT are expected to apply their minds to...

14. Validity of reopening of assessment u/s 147 - assessment beyond a period of 4 years - mandation of recording satisfaction - The satisfaction as contemplated u/s 151 of...

15. Commercial wisdom of CoC cannot be interfered with by the Adjudicating Authority. Definitely, it does not mean that Carte Blanche powers are given to RP & the CoC but to...