Validity of Revision of assessment order - In the absence of any ...

Case Laws Income Tax

May 25, 2015

Validity of Revision of assessment order - In the absence of any independent finding and leaving the AO to start a fresh investigation is not within the powers assigned us. 263 of the IT Act - the order us. 263 is not sustainable in the eyes of law- AT

View Source

← Previous Next →

Validity of Revision of assessment order - In the absence of any ...

Case Laws Income Tax

May 25, 2015

You may also like:

Disallowance - excess consumption of Tendu leaves - AO's addition 1/3rd, was found to be reasonable - HC

The ITAT Kolkata examined the validity of reassessment proceedings based on "reasons to believe" u/s 147. The AO's reasons lacked independent application of mind, being...

Section 263 revision - derivative transactions losses - inadequate inquiry by Assessing Officer (AO). Commissioner of Income Tax (CIT) set aside AO's order for...

Assessee surrendered income during survey u/s 133A as unaccounted professional receipts, which AO accepted as professional income taxable at normal rates. PCIT invoked...

The ITAT Ahmedabad considered the validity of reassessment proceedings based on borrowed satisfaction by the AO. The AO alleged non-independent application of mind by...

Revision u/s 263 - The Pr. CIT while passing the order u/s 263 cannot remand the matter back to the AO for passing the fresh order as it will lead to the conclusion that...

Revision u/s 263 - It is evident that A.O. made enquiries on the issue and assessee complied to the enquiries and filed all the required details. Thus, it is not a case...

The ITAT addressed various issues including disallowance u/s 14A r.w.r.8D, where Revenue challenged deletion of disallowance made by AO. ITAT upheld CIT(A)'s decision,...

Revision u/s 263 - AO recorded in order that assessee had “duly furnished the details of opening stock, closing stock, sales and production i.e. consumption of paddy etc....

Companies Fresh Start Scheme, 2020 - in order to facilitate the companies registered in India to make a fresh start on a clean slate, this Ministry has decided to take...

Revision u/s 263 - revision based on the audit objection - borrowed satisfaction - The ITAT noted that the AO had called for details and evidence from the appellant and...

Revision u/s 263 - successor PCIT / CIT did not agree with his predecessor - second revision order - assessment has been set aside or de novo assessment - sending of the...

Rate of GST - tobacco leaves - the leaves as long as they do not loose their basic character as 'leaves', shall be considered as tobacco leaves only - Rate of GST on...

GST Rates - HSN Code - For GST rate of 5% tobacco leaves means leaves of tobacco as such or broken tobacco leaves or tobacco leaves stems

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,...

Quick Updates: