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 October 2018 Year 2018 This

Revision u/s 263 - income originally determined by the Assessing ...


Commissioner's Revision Order Quashed Despite Identifying Shortcomings in Assessment; Deemed Tax Neutral and Unchanged.

October 13, 2018

Case Laws     Income Tax     AT

Revision u/s 263 - income originally determined by the Assessing Officer at Nil remained the same even after giving effect to the order passed in revision - he shortcomings noticed by the ld. CIT in assessment order, which in his opinion made the order erroneous, are tax neutral - order of revision quashed.

View Source

 


 

You may also like:

  1. Assessment u/s 144A - Power of JCIT to issue directions in certain cases - Directions to be exercised by the Joint Commissioner under Section 144(A) is merely intended...

  2. Reopening of assessment u/s 147 - reopening as based on audit objection - notice beyond four years - since four years had expired from the end of the relevant assessment...

  3. This case involves a challenge to an order of re-assessment under the relevant tax laws. The key points are: The petitioner failed to submit monthly returns within the...

  4. Reopening of assessment u/s 147 - AO has reasons to believe that such payments which were not considered during the original assessment escaped assessment and therefore,...

  5. Deemed dividend u/s. 2(22)(e) - the loan given by the company only in the immediate preceding year, i.e., assessment year 2007-08, should be assessed as deemed dividend...

  6. Section 264 empowers Commissioner to revise assessment order to provide relief to assessee in cases of over-assessment, even if assessee did not file revised return....

  7. The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

  8. Reopening of assessment – Approval not granted by Joint Commissioner, instead taken from Commissioner of Income- tax – Reopening of assessment invalid therefore quashed - AT

  9. Jurisdiction - competency of the Additional Commissioner to adjudicate and finalize the assessment - CESTAT held that, the Commissioner (Appeals) has also considered...

  10. Validity of Reopening of assessment - Sanction / Satisfaction of the proper authority u/s 151(1) - it prima facie appears that in view of the prescription of Section...

  11. Reopening of assessment u/s 147 - There is no indication of any application of mind by the authority. Moreover, the approval under Section 151 of the Act had to be...

  12. Assessment proceedings against one of the legal heirs - deceased/assessee had admittedly more than one legal representatives - Despite the legal heir's explicit...

  13. Validity of assessment order - deemed assessment - 'assessment' in Section 9(2) includes reference to a deemed assessment and the timelines set out for the bar of...

  14. Reopening of assessment u/s 147 - deemed dividend addition u/s 2(22)(e) - gap of more than four years - when the amount received by the two concerns from the loan giver...

  15. The High Court dealt with the maintainability of a petition concerning the non-constitution of an Appellate Tribunal and the jurisdiction and authority of the Assistant...

 

Quick Updates:Latest Updates