Revision u/s 263 - claim of exemption u/s.54F - The expenses are ...

Case Laws Income Tax

November 20, 2019

Revision u/s 263 - claim of exemption u/s.54F - The expenses are necessary to suitably live in that particular flat. These expenses are necessary for habitation in that particular flat. They do not pertain to any decoration item rather they are all essential to make a flat fit for living. - Exemption was rightly allowed - Revision order is not correct.

View Source

← Previous Next →

Revision u/s 263 - claim of exemption u/s.54F - The expenses are ...

Case Laws Income Tax

November 20, 2019

You may also like:

Revision u/s 263 - The ITAT held that the AO had conducted adequate inquiries into the sales promotion expenses, as evidenced by the issuance of specific queries to the...

The assessee was allowed deduction u/s 54/54F without proper examination of relevant details and materials. The Assessing Officer (AO) framed the assessment u/s 143(3)...

Revision u/s 263 - as per CIT AO had wrongly allowed the assessee exemption of capital gains claimed u/s 54B - Tribunal found that neither any inquiry was made by the AO...

Validity of Revision u/s 263 - Admisibility of Deduction u/s 80P, Deduction from total income under chapter VI-A and business expenses - The ITAT quashed the order...

Revision u/s 263 - As the assessee’s claim of having incurred the expenses towards furtherance of its charitable objective; and also its claim of having received...

Revision u/s 263 - eligibility of claim for deduction u/s 54F - If it born out from record that AO has not examined the claim of assessee for deduction and allowed the...

Revision u/s 263 - The fact that the vouchers were not found in the premises of the appellant trust at the time of survey proceedings, should have triggered the AO to...

Revision u/s 263 - The type, nature and extent of investigation is the prerogative of the Assessing Officer. Pr. CIT, cannot, in our view, invoke his power u/s 263 for...

Revision u/s 263 - the ld PCIT had invoked revision jurisdiction u/s 263 of the Act on the very same point of allowability of LTCL. Hence it could be safely concluded...

Revision u/s 263 - claim for depreciation on the leasehold rights - claim of depreciation of capitalized amount of stamp duty Paid - Allowing of the assessee’s claim for...

Revision u/s 263 - The words “as he deems necessary”, in our view, do not mean that the Ld. PCIT was left with a choice either to make or not to make an enquiry. As per...

Revision u/s 263 - exemption u/s 11(2) - all the technical requirements were duly fulfilled by the assessee along with satisfactory response to the queries raised...

Revision u/s 263 - AO though made inquiry about the claim made by the assessee, however, not discussed the same while passing assessment order. - It can be seen from the...

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 by CIT - CIT has duly examined the nature of expenses. The expenses are related to medical grants and other grants and J&K flood affected employees -...

Quick Updates: