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Income Tax - Highlights / Catch Notes

Home Highlights March 2019 Year 2019 This

Revision u/s 263 - sale of agriculture land or not - AO asked ...


Revision u/s 263: Tax Officer's Lack of Inquiry on Agricultural Land Sale Deemed Erroneous and Prejudicial to Revenue.

March 29, 2019

Case Laws     Income Tax     AT

Revision u/s 263 - sale of agriculture land or not - AO asked for the explanation but never made any enquiry or verification of assessee claim and allowed the relief - Explanation 2 to section 263 is clearly attracted i.e deemed to be erroneous and prejudicial to the interests of the Revenue

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