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 2015 Year 2015 This

Revision u/s 263 - taxation of surrendered income u/s 69A - The ...

Case Laws     Income Tax

November 29, 2015

Revision u/s 263 - taxation of surrendered income u/s 69A - The assessee had surrendered income over and above the normal profits of the concern and not as income from other sources. Assessing Officer had taken a plausible view and the power exercised by learned Commissioner of Income Tax is not as per settled law - AT

View Source

 


 

You may also like:

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

  2. During a search operation, the assessee surrendered a lump sum amount as alleged long-term capital gains from the sale of shares as additional income u/s 132(4). The...

  3. Revision u/s 263 - treating the surrendered amount of income as deemed income u/s 69/69A or from normal business income - No additions made by the AO u/s 115BBE -...

  4. 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...

  5. 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 -...

  6. Addition u/s 68/69A/69B and taxed the same u/s 115BBE - Surrendered income in survey - The Tribunal found that the income was directly linked to the assessee's regular...

  7. Income surrendered in survey action - undisclosed professional income - In fact, no such income has been found during the survey action. However, the assessee to keep...

  8. Addition of income u/s 69A or Business income - surrender of income during survey proceedings - when all the incomes earned by the assessee are only from the business...

  9. Addition u/s 69A - amount surrendered during survey - application of section 115BBE - AO without making any addition u/s. 69A or any other provision of the Act has...

  10. Revision u/s 263 - income offered during the course of survey - Applicable rate of tax - the explanation offered by the assessee during the course of survey regarding...

  11. Revision u/s 263 by CIT - Addition u/s 68 r.w.s 115BE - Nothing stated in the pre-amended or post amended provisions of section 115BBE that where the assessee surrenders...

  12. The ITAT Bangalore, in a case involving unexplained money u/s. 69A, addressed deposits in a bank account during the demonetisation period. The DR argued that the...

  13. The AO failed to correctly compute the undisclosed income after considering the correct sale value of land as per Form 26AS. The assessee claimed that one of the lands...

  14. The Appellate Tribunal reviewed a case involving a revision u/s 263 related to deduction u/s 80P(2)(a)(i). The AO allowed interest income from FD investments as a...

  15. Revision u/s 263 - Classification of rental income - House property v/s business income - The Appellate Tribunal observed that the Assessee is primarily engaged in...

 

Quick Updates:Latest Updates