Revision u/s 263 - Deemed dividend addition u/s 2(22)(e) - ...

Section 263 Revision on Deemed Dividend: Transfer of Liability to Assessee Not Prejudicial to Revenue's Interest.

February 6, 2019

Case Laws Income Tax AT

Revision u/s 263 - Deemed dividend addition u/s 2(22)(e) - Actual liability of the company has been transferred to the assessee which increases his liability and there is no revenue loss to the department. - Though the AO did not examine this issue, the assessment cannot be held to be prejudicial to the interest of the revenue.

View Source

← Previous Next →

Revision u/s 263 - Deemed dividend addition u/s 2(22)(e) - ...

Section 263 Revision on Deemed Dividend: Transfer of Liability to Assessee Not Prejudicial to Revenue's Interest.

February 6, 2019

Case Laws Income Tax AT

You may also like:

The assessee's case was selected for limited scrutiny under CASS. The PCIT observed that the assessee, along with two co-owners, had purchased an immovable property...

Section 263 revision - Unexplained income u/s 69A read with Section 115BBE - Cash seized shown as 'income from other sources' - Whether to be treated as unexplained...

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...

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...

Revision u/s 263 - change of opinion - in proceedings u/s 147 assessee contended that the transfer price was based on the individual assets and liabilities of the...

Revision u.s 263 - assessment order passed pursuant to the revisionary order has resulted in reduction of tax liability - not prejudicial to the interest of the Revenue...

Revision u/s 263 by CIT - buy back of shares from its own holding company - deemed dividend under section 2(22)(d) - dividend distribution tax u/s 115-O - CIT has...

Revision u/s 263 - when in the threshold itself, the AO has failed to do his duty in conducting and verifying the issues involved, then in such situation, explanation...

ITAT upheld the PCIT's revision under section 263, confirming that interest received on enhanced compensation under section 28 of the Land Acquisition Act is taxable...

Revision u/s 263 - Transfer of land by wife to her husband - Nature of transaction - Sale or Gift - It is the case of the assessee that sale deed is nothing but gift...

The Commissioner's invocation of Section 263 for revision of the assessment order was unjustified as the twin conditions of the order being erroneous and prejudicial to...

Revision u/s 263 - valuation of closing stock, non increasing of closing stock by proportionate other direct expenses - The alleged under valuation of closing stock is a...

Revision u/s 263 - The words “as he deems necessary”, in our view, do not mean that the Ld. PCIT was left with a choice either to make or not to make an enquiry. As per...

Revision u/s 263 - CIT setting aside the second reassessment order - time limit to take action u/s 263 - the necessity for the Commissioner to have substantial grounds...

Revision u/s 263 - Invocation of revision proceedings for the second time - As pertinent to point out that there was no bar on limitation by the ld. PCIT to invoke...

Quick Updates: