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 January 2015 Year 2015 This

Revision u/s 263 - unaccounted cash in saving bank account - ...


CIT's order for further probe on unaccounted cash u/s 263 overruled; AO's initial assessment upheld.

January 30, 2015

Case Laws     Income Tax     AT

Revision u/s 263 - unaccounted cash in saving bank account - CIT was not justified in directing the Assessing Officer to make further investigations afresh when the Assessing Officer had already applied his mind and thoroughly examined the issues - AT

View Source

 


 

You may also like:

  1. Revision u/s 263 - taxability of cash transactions - entire explained cash transaction should not be brought to tax - AO not erred in applying the GP rate of 19.40%...

  2. Revision u/s 263 - during the course of assessment, the AO made an addition on account of unexplained cash credit of unsecured loan u/s 68 - AO omitted to disallow the...

  3. Revision u/s 263 - another possible view of the matter - The appellant challenged the jurisdiction of the PCIT, arguing that the original assessment order by the AO was...

  4. Revision u/s 263 - unexplained cash deposits - onus to prove - The Pr. CIT found the assessment order erroneous and prejudicial to the revenue's interests due to...

  5. The ITAT upheld the Revision u/s 263 by PCIT, finding the AO's assessment under section 143(3) r.w.s. 153C erroneous and prejudicial to Revenue. The unsigned assessment...

  6. Revision u/s 263 - unexplained cash deposit during the demonization period - The tribunal noted that the AO had conducted an adequate inquiry into the assessee's cash...

  7. Revision u/s 263 - Bogus LTCG/Share transaction - as per CIT AO failed to make necessary enquiries to ascertain the actual strength of the company, investment profile of...

  8. CIT allowed to invoke Section 263 to revise assessment order due to AO's failure to verify assessee's explanation regarding investment in mutual funds/shares despite...

  9. Assessing Officer conducted due enquiries regarding cash deposits during demonetization period, called for details from assessee to substantiate source. AO applied mind,...

  10. Assessee received funds from four parties, which were not considered by the Assessing Officer (AO) during assessment proceedings u/s 147 read with Section 144. The...

  11. ITAT ruled against PCIT's revision order under s.263 regarding unaccounted cash purchases of Rs.5,83,99,000/-. The Tribunal held that where AO had already estimated...

  12. Revision u/s 263 - Ld. Pr. CIT exercising jurisdiction under section 263 of the Act, directed the AO to make fresh assessment on the issues which were not the subject...

  13. The case pertains to the revision of an assessment order u/s 263 regarding the applicability of the higher tax rate u/s 115BBE on unexplained expenditure u/s 69C. The...

  14. Assessment u/s 153C - Profit estimation on money received for new construction and redevelopment projects - extrapolation of income for the search period. The assessee...

  15. Revision u/s.263 - In absence of information at the time of completion of the assessment the AO could not have asked the assessee to explain the cash transactions - on...

 

Quick Updates:Latest Updates