Home Highlights February 2017 Year 2017 This

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1. Blocking of input tax credit in the electronic credit ledger - Power of Commissioner or an officer authorised by him under Rule 86A - The power under Rule 86A of the...

2. Revision u/s 263 - carry forward of losses on sale of shares - where there are two possible views and the Assessing Officer has taken one of the possible views, no...

3. Revision u/s 263 by CIT - sale of impugned land measuring 10.162 acres below the stamp duty value - under the given circumstances, it can be safely concluded that the...

4. Revision power u/s 264 - CIT committed a manifest error in exercising revisional power when petitioner's appeal was pending before CIT (Appeals) - HC

5. Extension of the date for filing the income tax returns - While it is true that the powers under section 119 of the Act are discretionary in nature and it is for the...

6. Exercise of Revisional Jurisdiction after seven years - the bar of limitation, to initiate revisional jurisdiction under Section 46 (1) of the VAT Act, 2005 within five...

7. Jurisdiction of Revisional Authority to revise an order - The decision of the Tribunal may not be acceptable to the Revisional Authority, but that cannot furnish any...

8. Revision u/s 263 by CIT - reopening on the basis of letter written by JCIT - In the case in hand the Ld. Revisional Authority has done no homework on its end but merely...

9. 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...

10. 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...

11. Jurisdiction - power of Tribunal to review its own order - Power of Review has to be granted by statute and the ‘power of Review’ is not an inherent power and therefore...

12. Delegation of powers u/s GST - Section 5(3) of the Act specifically confers power upon the Commissioner to delegate his functions - The power u/s 69 can be exercised by...

13. Exemption certificate in respect of defence items imported - certificate have been issued by the Inspector General who is equivalent to Joint Secretary level officer in...

14. Revision u/s 263 - Revision based on Audit Objection - a mechanical exercise of revisionary powers u/s 263 by the Revisionary Authority by merely citing the Audit...

15. Provisional attachment - Validity of circular dated 23rd February, 2021 - In our view the safeguard as provided in clause 3.1.5 in the said circular by providing that...