Home Highlights February 2019 Year 2019 This

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1. The case pertains to the revision of an assessment order u/s 263 regarding the applicability of the higher tax rate u/s 115BBE on unexplained expenditure u/s 69C. The...

2. Revision u/s 263 - the issue was duly considered by Ld. AO after considering assessee’s detailed submissions. The view could not be said to be unsustainable view and it...

3. 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...

4. Revision u/s 263 - The PCIT primarily questioned the claim of deduction under Section 80IC and criticized the AO for allegedly not conducting a thorough examination...

5. The Appellate Tribunal reviewed a case involving a revision u/s 263 related to deduction u/s 80P(2)(a)(i). The AO allowed interest income from FD investments as a...

6. Revision u/s 263 - issue of applicability of claim of deduction under section 80IC not examined by AO - It is admitted fact that return of income filed by assessee was...

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

8. Revision u/s 263 - When the order of the AO suffers from a complete lack of enquiry, then the above said principle has no application due to the obvious reason that the...

9. Validity of revision proceedings u/s 263 - Adoption of either of view by AO - allowability under section 36(1)(viia) - The court concludes that the original assessment...

10. Case involved revision u/s 263 by the Commissioner of Income Tax (CIT) setting aside assessment order regarding rent recovered from specified persons and treatment of...

11. 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...

12. Revision u/s 263 - AO though made inquiry about the claim made by the assessee, however, not discussed the same while passing assessment order. - It can be seen from the...

13. Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

14. Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

15. Revision u/s 263 - taxability of cash transactions - entire explained cash transaction should not be brought to tax - AO not erred in applying the GP rate of 19.40%...