Revision u/s 263 - Exclusion of securitization income allowed by ...

Case Laws Income Tax

March 16, 2019

Revision u/s 263 - Exclusion of securitization income allowed by AO without revised return based on fact that it was spared over on succeeding years - both the pre-requisite requirements for invoking revisional powers under Section 263 were not satisfied namely, an error and a prejudice caused to the Revenue.

View Source

← Previous Next →

Revision u/s 263 - Exclusion of securitization income allowed by ...

Case Laws Income Tax

March 16, 2019

You may also like:

The assessee, a university, claimed exemption u/s 10(23C)(iiiab) for the relevant assessment year, which was accepted by the Assessing Officer (AO) after considering the...

Revision u/s 263 - unexplained cash deposit during the demonization period - The tribunal noted that the AO had conducted an adequate inquiry into the assessee's cash...

Revision u/s 263 - the AO has not made any enquiry and accepted the return of income filed by the assessee, as it is, without enquiring about the issue raised by the...

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...

The AO's order was not erroneous or prejudicial to the revenue's interests. The filing fee for increasing share capital was rightly allowed as revenue expenditure,...

Assessee surrendered income during survey u/s 133A as unaccounted professional receipts, which AO accepted as professional income taxable at normal rates. PCIT invoked...

When the AO rejects the revised return then the whole return is invalid. In case AO makes addition from the revised return then it means that he recognizes the revised...

Revision u/s 263 - As the assessment was completed after making required amount of enquiry and there was no lake of enquiry or investigation by the AO on the issues...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

Revision u/s 263 - order framed u/s 153A - The Tribunal (ITAT) held that, the assessment orders approved u/s 153D cannot be revised u/s 263 without first revising the...

Revision u/s 263 involving excess deduction of transport expenses and non-deduction of TDS on transportation charges. CIT held AO failed to verify adequately, rendering...

Revision u/s 263 - power of CIT to revise - return processes u/s 143(1) is not subjected to revision - AT

Validity of revised return 139(5) - Revised return did not conform to the prescription of section 139(5), before its substitution w.e.f. A.Y. 2017-18, which provided for...

Revised return enhancing declared income necessitated by settlement with respondents in earlier years. AO refused to accept declarations and proceed per settlement. AO's...

The Income Tax Appellate Tribunal held that the revised return of income filed by the assessee cannot be treated as invalid by the Assessing Officer (AO). Since the AO...

Quick Updates: