Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights April 2019 Year 2019 This

Revision u/s 263 - source of purchase declared was examined by ...

Case Laws     Income Tax

April 24, 2019

Revision u/s 263 - source of purchase declared was examined by AO but unrealistically lower costs of purchases not examined - no relevant meaningful inquiry was conducted in respect to correctness of the cost of purchase of land - lack of inquiry - Revision justified

View Source

 


 

You may also like:

  1. Revision u/s 263 - Since the return filed by the assessee was selected for limited scrutiny, inter-alia, regarding deduction against income from other sources, the AO...

  2. Revision u/s 263 - bogus purchases - documents like invoices, given details of stocks, payments through the banking channels and confirmation from parties examined by AO...

  3. Revision u/s 263 - deduction under section 54B - No doubt the assessee declared capital gain but, whether its exemption can be claimed on purchase of other agriculture...

  4. 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...

  5. Revision u/s 263 - It is evident that A.O. made enquiries on the issue and assessee complied to the enquiries and filed all the required details. Thus, it is not a case...

  6. 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...

  7. Revision u/s 263 by CIT - When the case of the assessee was selected under CASS to examine the capital gains then the AO was required to examine the case meticulously on...

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

  9. Revision u/s 263 - Addition u/s 68 - income from other source (income declared at the time of survey) - tax is payable u/s 115BBE or not - CIT was not at all justified...

  10. 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...

  11. Revision u/s 263 - once the AO cannot examine any other issue except the issue as selected for limited scrutiny assessment, the PCIT can examine the only issue which was...

  12. Revision u/s 263 by CIT - addition u/s 40A ignored by AO - expenses have been incurred in cash exceeding Rs. 20,000/- per day - AO is expected to examine the provisions...

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

  14. The High Court held that the Principal Commissioner of Income Tax (PCIT) lacked jurisdiction to pass an order u/s 263 of the Income Tax Act in this case. The Assessing...

  15. Revision u/s 263 - expenditure on purchased CDs on Jain Religion - AO had carried out detailed enquiries and taken a plausible view and accepted the assessee's treatment...

 

Quick Updates:Latest Updates