Home Highlights December 2015 Year 2015 This

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1. Revision u/s 263 - “no inquiry” v/s “inadequate inquiry” - there is a distinction between merely calling for information on a particular issue and considering such...

2. Revision u/s 263 - re-verification of unsecured loans and creditors - unless the CIT brings on record to show that the order of the AO is erroneous, as the same was...

3. Revision u/s 263 - CIT setting aside the second reassessment order - time limit to take action u/s 263 - the necessity for the Commissioner to have substantial grounds...

4. Revision u/s 263 - eligibility of claim for deduction u/s 54F - If it born out from record that AO has not examined the claim of assessee for deduction and allowed the...

5. Revision u/s 263 by PCIT - claim of deduction u/s 80P - When the rule of consistency has been applied by the ld AO, his order cannot be termed as erroneous without...

6. Revision u/s 263 - LTCG - deduction as claimed by the assessee u/s 54F - Pr. CIT was not justified in imposing his view upon the assessing officer on wrong appreciation...

7. Revision u/s 263 - providing accommodation entries - Section 263 requires the CIT to consider the order erroneous after examining the records of the proceedings. Here in...

8. In light of the search material, the course of action should have been taken u/s 153C instead of Section 148. The Assessing Officer erred in invoking reassessment...

9. Revision u/s 263 - AO actually carried out an enquiry after the reopening of the proceedings and that once there was an application of mind, on the part of the AO, it...

10. Revision u/s 263 - the assessee made no specific claim u/s. 80P2(d) of the Act before the AO nor in the return of income as rightly pointed by the ld. DR. - Further, AO...

11. Revision u/s 263 - the issue was duly considered by Ld. AO after considering assessee’s detailed submissions. The view could not be said to be unsustainable view and it...

12. Revision u/s 263 by CIT – The explanation under section 263 of the Act defines 'records' as all records relating to any proceedings under the Act available at the time...

13. Revision u/s 263 disallowing exemption u/s 11(1) for government grant received by assessee-Trust. ITAT concluded Principal CIT did not independently apply mind by...

14. Revision u/s 263 by PCIT - alleged that cash deposits being not satisfactorily explained and failure of AO to bring the same to tax - ignoring the factum of inquiry by...

15. Revision u/s 263 - corpus donations received by the assessee-trust - there is a clear contradiction in the order of assessment and non-application of mind on the...