Revision u/s 263 - MAT computation u/s 115JB - there was no ...

CIT's Revision u/s 263 Deemed Unjustified in MAT Computation as Audits Show No Discrepancies in Accounts.

January 16, 2017

Case Laws Income Tax AT

Revision u/s 263 - MAT computation u/s 115JB - there was no justification for the CIT to use his revisionary powers in the case under consideration. It is to be remembered that the accounts of the assessee were audited by the C&AG and by a special auditor. They had not found any defect in the accounts prepared by it - AT

View Source

← Previous Next →

Revision u/s 263 - MAT computation u/s 115JB - there was no ...

CIT's Revision u/s 263 Deemed Unjustified in MAT Computation as Audits Show No Discrepancies in Accounts.

January 16, 2017

Case Laws Income Tax AT

You may also like:

Revision u/s 263 involving excess deduction of transport expenses and non-deduction of TDS on transportation charges. CIT held AO failed to verify adequately, rendering...

The HC held that the CIT's revision order u/s 263 was unsustainable. The CIT's view that the transfer of shares by the assessee was a sham to avoid DDT u/s 115-O was...

Revision u/s 263 by CIT - Addition u/s 68 - unexplained credit - The Tribunal meticulously examined the submissions, the audit objections, and the law's provisions. It...

Revision u/s 263 - violation of the provisions of section 40A(3) - CIT is not justified in invoking jurisdiction u/s 263 on the strength of an audit note - AT

Appealable order before CIT(A) - scope of order passed on the basis of direction given u/s 263, revisionary proceedings - Therefore, for all purposes, the computation of...

Revision u/s 263 by CIT - bogus loss on shares - penny stock transactions - Reliance on audit objection given by the audit party - As safely concluded that the ld. AO...

Revision u/s 263 by CIT - requirement of issuing show-cause notice - there is nothing in the Section 263 to raise the said notice to the status of a mandatory show-cause...

Revision u/s 263 - the ld PCIT had invoked revision jurisdiction u/s 263 of the Act on the very same point of allowability of LTCL. Hence it could be safely concluded...

Validity of Revision u/s 263 - Bogus long term capital gain through share transaction of a penny stock company - The tribunal observed that the Pr. CIT based the...

Revision u/s 263 - For the purpose of exercising jurisdiction u/s 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the interest of...

Revision u/s 263 by CIT - Merely on the basis of audit objection powers u/s 263 could not have been exercised. The impugned order u/s 263, does not indicate that the...

The ITAT Rajkot dealt with a case involving revision u/s 263 of the Income Tax Act regarding orders u/s 92CA. The amendment to section 263 clarified the jurisdiction to...

CIT(A) allowed assessee to withdraw appeal against section 263 revision order, stating Tribunal quashed section 263 order and CIT(A) erred in not deciding appeal merits....

MAT Computation u/s 115JB - Revisions proceedings u/s 263 - CIT directed the AO to make certain additions to book profit u/s 115JB - What we find is in the order passed...

Revision u/s 263 by CIT - As both the issues in question on the basis of which the Pr.CIT had assumed jurisdiction u/s 263 of the Act had been considered and decided in...

Quick Updates: