Home Highlights October 2015 Year 2015 This

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1. Revision u/s 263 - assessment order passed by the AO is neither erroneous nor prejudicial to the interest of the Revenue. First of all, the AO has considered the issue...

2. Revision u/s 263 - order passed u/s 143(3) r.w.s. 147 wherein the assessment were re-opened on specific reasons recorded for re-opening and addition made - CIT is...

3. The Appellate Tribunal held that the issues on which the reassessment order was passed u/s 147 read with Section 143(3) and the issues on which the revision order was...

4. Revision u/s 263 - Revision barred by limitation or not? - Period to be computed from the date of original assessment u/s 143(3) or from the date of subsequent order...

5. Penalty u/s 271(1)(b) - assessment has been completed u/s 143(3) - Assessee has not complied to the statutory notice issued by the AO - Since the assessment in the...

6. Revision u/s 263 - Period of limitation - To be commenced from original assessment order or re-assessment order u/s 147 - In the case on hand, the jurisdiction under...

7. Revision u/s 263 - period of limitation - the case was re-assessed u/s. 143(3) r.w.s. 147 - the case of the assessee was again reopened and the assessment u/s. 143(3)...

8. Revision u/s 263 - It is manifest from the record and particularly from the assessment order and order sheet entries that the AO has not taken up this issue of...

9. Revision u/s 263 - As on date that in an unabated year the addition can only be made on the basis of incriminating material. Therefore having regards to the legal...

10. Reopening of assessment - AO seeks to reopen the assessment on a mere change of opinion inasmuch as, at the time of scrutiny assessment, AO had applied his mind to the...

11. 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...

12. Validity of reopening of assessment - assessment proceeding u/s 143(3) r.w.s. 153C of the Act was completed - When assessment is completed u/s 143(3) or u/s 144 of the...

13. Revision u/s 263 - Validity of order passed by the A.O. u/s.143(3) questioned - when the impugned order of reassessment u/s 143(3), in itself had been passed on the...

14. Revision u/s 263 - In the instant case, the receipt of consultancy fee does not fall within the ambit of expression “income in respect of any issue, which has escaped...

15. Revision u/s 263 - Reopening of assessment - AO completed the assessment on declared income of the assessee - The Tribunal held that, the AO raised the issue, asked for...