Revision u/s 263 - eligibility of claim for deduction u/s 54F - ...

Section 54F Deduction Eligibility Challenged in Section 263 Revision for AO's Inadequate Examination of Taxpayer's Claim.

March 2, 2019

Case Laws Income Tax AT

Revision u/s 263 - eligibility of claim for deduction u/s 54F - If it born out from record that AO has not examined the claim of assessee for deduction and allowed the same without application of mind then revision u/s 263 is permissible.

View Source

← Previous Next →

Revision u/s 263 - eligibility of claim for deduction u/s 54F - ...

Section 54F Deduction Eligibility Challenged in Section 263 Revision for AO's Inadequate Examination of Taxpayer's Claim.

March 2, 2019

Case Laws Income Tax AT

You may also like:

The assessee was allowed deduction u/s 54/54F without proper examination of relevant details and materials. The Assessing Officer (AO) framed the assessment u/s 143(3)...

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...

Eligibility of deduction u/s 54 and 54F - in return deduction claimed u/s 54F - in assessment proceedings revised his claim u/s 54 - AO is duty bound to allow deduction...

Section 263 revision - derivative transactions losses - inadequate inquiry by Assessing Officer (AO). Commissioner of Income Tax (CIT) set aside AO's order for...

ITAT allowed assessee's appeal against revision proceedings under s.263 concerning 100% deduction claimed under s.80IC. PCIT's revision order was set aside as it failed...

Revision u/s 263 by CIT - The subject matter of the deduction in the reassessment order was the quantum of deduction but not the eligibility of the deduction and even in...

Disallowance of exemption claimed u/s 54F - nature of the property as residential in nature - It does not make difference whether the property has been shown as...

Revision u/s 263 - allowing deduction u/s 54F in the absence of Long Term Capital Gain - When the assessee has not held the flats for a minimum period of 3 years, the...

Validity of reopening an assessment beyond four years from the end of the relevant assessment year, denial of deduction u/s 54F, and the addition on the ground of owning...

Deduction u/s 54F - LTCG - Out of these 24 flats, 15 flats are already sold in the present year and remaining 9 flats are likely to be sold within the period of three...

Denial of deduction claimed under Chapter VI-A i.e. Section 80G/ 80GGA read with Section 35AC - The Appellate Tribunal noted that the appellant had not claimed the...

Revision u/s 263 by CIT - wrong claim of deduction u/s. 80JJA - the AO has not brought out anything explicitly and not recorded any finding with regard to the deduction...

Revision u/s 263 - the eligibility of deduction u/s 54B in respect of land acquired prior to transfer of capital asset is clearly opposed to the plain provision of the...

Weighted deductions claimed u/s 35(2AB) - The petitioner challenged the restriction of the eligibility period for weighted deductions on R&D expenditure, contending it...

Exemption u/s 54 / 54F - While section 54 of the Act deals with capital gains arising out of transfer of buildings or lands appurtenant thereto and being residential...

Quick Updates: