Revision u/s 263 - correctness of the record or valuation ...

Case Laws Income Tax

May 23, 2016

Revision u/s 263 - correctness of the record or valuation ascribed by the assessee to the fixed assets - it is a case of complete lack of enquiry which renders the order of the AO erroneous so far as prejudicial to the interest of the revenue - AT

View Source

← Previous Next →

Revision u/s 263 - correctness of the record or valuation ...

Case Laws Income Tax

May 23, 2016

You may also like:

Revision u/s 263 - Assessee has regular dealings with these related persons/entities and necessary confirmation is on record and therefore, the findings of the ld PCIT...

Revision u/s 263 based on DVO's report received after assessment culmination was invalid as per section 142A(4), DVO failed to provide opportunity of being heard to...

TP Adjustment - Purchase of fixed assets - TPO added the entire amount of fixed assets purchased by the assessee from its AE’s during the year - the fixed assets...

Appraisal report available but AO ignored, a fit case for revision u/s 263 - HC

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...

Revision u/s 263 - failure of AO to not referring the matter to the DVO for valuation of construction work - when the AO has taken a broad view by accepting the cost of...

Revision u/s 263 - Once the valuation report has not been sent by the valuation officer to the assessing officer/assessee, within the period stipulated by the act that...

Relevance of the valuation report received after assessment, the application of mind by the PCIT in invoking Section 263 revision jurisdiction, the treatment of...

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...

Revision u/s 263 - Lack of enquiry is a reason for taking up the case for revision u/s 263 of the Act but the inadequate enquiry cannot be a reason for taking up the...

Revision u/s 263 - AS 7 - construction of asset - block of asset is not restricted to building machinery plant or furniture but is extended to know-how patents Copyright...

Revision u/s 263 - if the transfer of asset is to be assessed under the head `income from business’ necessarily, the provisions of section 43CA would have application...

The case pertains to revision u/s 263 regarding adjustment made in profit on account of tangible fixed assets. The assessee's audited financial statements indicated an...

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...

Revision u/s 263 - receipt of on-money - incriminating material found in search or not? - PCIT should himself have conducted the enquiry or causing to make such...

Quick Updates: