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 November 2014 Year 2014 This

Validity of order u/s 263 – revenue is not vested with any power ...


Revenue Authorities Can't Revise Every Case u/s 263 of the Income Tax Act, No Re-examining Concluded Matters.

November 4, 2014

Case Laws     Income Tax     AT

Validity of order u/s 263 – revenue is not vested with any power u/s 263 to initiate proceedings for revision in every case and start re-examination and fresh enquiries in matters which have already been concluded under the law. - AT

View Source

 


 

You may also like:

  1. Revision u/s 263 - Ld. CIT without pointing out any infirmity in the reply /explanation of the assessee could not concluded that the assessment order passed by the AO...

  2. Revision u/s 263 - correct head of income - while we see no reason to interfere with the order of the Commissioner under Section 263 of the Income Tax Act to the extent...

  3. Revision u/s 263 - The provisions of Section 263 although appears to be of a very wide amplitude and more particularly after insertion of Explanation 2 but cannot...

  4. Revision u/s 263 - Every loss of revenue as a consequence of an order of AO cannot be treated as prejudicial to the interests of the revenue, for example, when an...

  5. The High Court held that the Revisional Authority did not follow the proper procedure prescribed u/s 263 of the Income Tax Act while invoking its revisionary powers. The...

  6. Revision u/s 263 - Scope of Explanation 2 to section 263 - the said Explanation does not give unfettered power to the PCIT to assume revisional-jurisdiction to revise...

  7. Section 263 revision - Unexplained income u/s 69A read with Section 115BBE - Cash seized shown as 'income from other sources' - Whether to be treated as unexplained...

  8. Revision u/s 263 - Issue considered and decided in appeal by appellate authorities, such matters cannot be subject to revision u/s 263. Rationale behind exclusion of...

  9. Invocation of Section 263 by the Principal Commissioner of Income-Tax (PCIT), alleging non-application of mind and lack of jurisdiction. The key points are: The...

  10. 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,...

  11. The Appellate Tribunal reviewed a case involving a revision u/s 263 related to errors in revenue recognition methods. The Commissioner has the authority to examine and...

  12. 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...

  13. The ITAT Rajkot dealt with a case involving revision u/s 263 of the Income Tax Act regarding orders u/s 92CA. The amendment to section 263 clarified the jurisdiction to...

  14. Rental income determination - assessee jointly owns 50% house property in Singapore with wife - offered 100% rental income for AY 2014-15 erroneously, rectified in...

  15. Revision u/s 263 - Being conscious of the fact that the original assessment order could not be revised under section 263 of the Act due to bar of limitation, as provided...

 

Quick Updates:Latest Updates