Revision u/s 263 - The failure to compute assessee’s income u/s ...

Case Laws Income Tax

October 29, 2019

Revision u/s 263 - The failure to compute assessee’s income u/s 115JB, in our considered opinion, would certainly make the order liable for exercise of revisional jurisdiction u/s 263. There was a certain omission on the part of Ld. AO in not considering the computation of Book Profits u/s 115JB and therefore, the jurisdiction u/s 263 was rightly invoked.

View Source

← Previous Next →

Revision u/s 263 - The failure to compute assessee’s income u/s ...

Case Laws Income Tax

October 29, 2019

You may also like:

Revision u/s 263 - Levy of tax @60% on undisclosed income - AO completed the assessment after considering the explanation offered by the assessee. In the explanation,...

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 -...

The AO failed to correctly compute the undisclosed income after considering the correct sale value of land as per Form 26AS. The assessee claimed that one of the lands...

Revision u/s 263 - as per CIT-A interest on SBI constitute other income which was not properly verified by the AO - The present revision is on difference of opinion...

Revision u/s 263 - When the provision contained under Section 92CA(4) of the Act makes it mandatory upon the Assessing Officer to compute the total income of the...

Revision u/s 263 by CIT - disallowance of provision for nonperforming assets (NPA) in computing books profits u/s 115JB - The Tribunal, after considering detailed...

Revision u/s 263 - order has been passed by the Ld. CIT under section 263 without considering the explanation offered by the assessee and without applying his mind. In...

The assessee had not computed income under the provisions of Minimum Alternate Tax (MAT) and had not computed book profit, claiming that the provisions of MAT were not...

Revision u/s 263 - CIT setting aside the second reassessment order - time limit to take action u/s 263 - the necessity for the Commissioner to have substantial grounds...

Revision u/s 263 - the issue was duly considered by Ld. AO after considering assessee’s detailed submissions. The view could not be said to be unsustainable view and it...

Revision u/s 263 - brought forward loss as deducted in computing the book profit u/s.115JB - We have been confronted with a situation in which the AO incorrectly applied...

The ITAT, an Appellate Tribunal, considered a case involving the revision u/s 263 for non-deduction of tax at source on salary and commission payments. The CIT argued...

Revision u/s 263 by CIT - Irregular allowance of long-term capital loss wherein it has been held that the assessee has applied the cost of inflation index on foreign...

Revisional powers u/s 263 with respect to the deduction claimed u/s 36 (1) (viii) - With respect to the inclusion of interest on income tax refund considered both by the...

Revision u/s 263 - Additions u/s 69 r.w.s. 115BBE - excess stock found during the course of survey as admitted to be the undisclosed business income of the assessee, by...

Quick Updates: