Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights June 2014 Year 2014 This

Power of the CIT for revision u/s 263 – The limitation period ...


CIT's Revision Order Deadline u/s 263 Starts from Original Assessment Date: 30.11.04.

June 2, 2014

Case Laws     Income Tax     AT

Power of the CIT for revision u/s 263 – The limitation period for passing the order u/s 263 would start running from the date of the passing of the original assessment order, i.e., 30.11.04 - AT

View Source

 


 

You may also like:

  1. 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,...

  2. The assessee's role was purely custodial, acting as an agent with ownership of collected funds remaining with State Government. Hence, income could not be taxed in...

  3. Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

  4. Revision u/s 263 disallowing exemption u/s 11(1) for government grant received by assessee-Trust. ITAT concluded Principal CIT did not independently apply mind by...

  5. Taxability of unutilized accumulated funds u/s 11(2) as income u/s 11(3) - The CIT(A) upheld the Assessing Officer's decision, which was based on a Section 263 order...

  6. Revision u/s 263 - For the purpose of exercising jurisdiction u/s 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the interest of...

  7. CIT(A) allowed assessee to withdraw appeal against section 263 revision order, stating Tribunal quashed section 263 order and CIT(A) erred in not deciding appeal merits....

  8. Revision u/s 263 - Exemption u/s 11 - If the order of the AO does not disclose the basis of his conclusion, then jurisdiction u/s 263 of the Act can be ignored....

  9. Revision u/s 263 involving excess deduction of transport expenses and non-deduction of TDS on transportation charges. CIT held AO failed to verify adequately, rendering...

  10. Revision u/s 263 - assessment of trust - donations given out of accumulated funds u/s. 11(2) of the Act of earlier previous years - The Tribunal noted the argument that...

  11. 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...

  12. Revision u/s 263 by CIT - disallowance of exemption claimed in respect of accumulation of income u/s 11(2) - insofar as the impugned assessment year is concerned, there...

  13. Revision u/s 263 by CIT - disallowance of provision for nonperforming assets (NPA) in computing books profits u/s 115JB - The Tribunal, after considering detailed...

  14. 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...

  15. Revision u/s 263 - Accumulation of income u/s 11(2) - Deemed income accumulation - debatable issue - As categorically explained that deemed income charged u/s. 11(3) is...

 

Quick Updates:Latest Updates