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 January 2017 Year 2017 This

Revision u/s 263 - The view taken by Ld. AO is a plausible view, ...


Assessment Order by AO Supported by Judicial Precedents; Revision u/s 263 Not Warranted Despite Revenue Concerns.

January 20, 2017

Case Laws     Income Tax     AT

Revision u/s 263 - The view taken by Ld. AO is a plausible view, which is supported by various judicial precedents. The assessment order passed cannot be called to be erroneous though may be prejudicial to the interest of the revenue - AT

View Source

 


 

You may also like:

  1. Revision u/s 263 - Addition u/s 68 - in the light of the judicial precedents and in the light of fact that AO has conducted enquiries in respect of share capital...

  2. Revision u/s 263 by CIT - disallowance of provision for nonperforming assets (NPA) in computing books profits u/s 115JB - The Tribunal, after considering detailed...

  3. The Principal Commissioner of Income Tax rightly invoked revision u/s 263 against the assessment order. Despite being afforded multiple opportunities, the assessee...

  4. The ITAT held that the order passed u/s 263 by the PCIT was in gross violation of the principles of natural justice. The Tribunal observed that the order disregarded the...

  5. Validity of Revision u/s 263 - Admisibility of Deduction u/s 80P, Deduction from total income under chapter VI-A and business expenses - The ITAT quashed the order...

  6. The ITAT allowed the assessee's claim for deduction of ESOP expenditure, directing the AO to follow the binding precedents of the Karnataka HC and ITAT Special Bench on...

  7. 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...

  8. The AO's order was not erroneous or prejudicial to the revenue's interests. The filing fee for increasing share capital was rightly allowed as revenue expenditure,...

  9. Revision u/s 263 - Genuineness of expenditure (Commission paid) - The ITAT found that the commission agreement was genuine, payments were made through banking channels,...

  10. 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...

  11. Revision u/s 263 by CIT - the assessee had duly explained as to why certain receipts though subjected to TDS, would not be liable to be offered to tax such as...

  12. 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...

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

  14. The ITAT held that the AO committed an error prejudicial to the Revenue's interest by failing to tax the notional annual letting value of the assessee company's unsold...

  15. Revision u/s 263 - Deduction u/s 80P on interest received from Cooperative Bank - After considering the submissions and the relevant statutory provisions and precedents,...

 

Quick Updates:Latest Updates