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Income Tax - Highlights / Catch Notes

Home Highlights July 2019 Year 2019 This

Revision u/s 263 - change of opinion - in proceedings u/s 147 ...

Case Laws     Income Tax

July 15, 2019

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 undertaking transferred and the sale would not qualify as “Slump Sale” as per Section 2(42C) - this explanation of the Assessee was accepted by the AO - for the very same reasons, the CIT has invoked the power u/s 263 - not permissible

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