Revision u/s 263 - The materials (reasons) referred by the CIT ...

Case Laws Income Tax

December 6, 2019

Revision u/s 263 - The materials (reasons) referred by the CIT are superficial, which at the most can rise a suspicion only. No firm conclusion can be drawn nor support the stand taken by the ld.Commissioner

View Source

← Previous Next →

Revision u/s 263 - The materials (reasons) referred by the CIT ...

Case Laws Income Tax

December 6, 2019

You may also like:

Revision u/s 263 - Lack of enquiry is a reason for taking up the case for revision u/s 263 of the Act but the inadequate enquiry cannot be a reason for taking up the...

Revision u/s 263 - The fact remains that the specific issue raised, in the revision order was specifically looked into, detailed submissions were made and these...

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 - reopening of assessment u/s 147 - "reason to suspect" v/s 'reason to believe' - Information adverse may trigger "reason to suspect" and not...

Revision u/s 263 by CIT - receipt of share premium - the power of revision u/s 263 does not allow for supplanting or substituting the view of the Assessing Officer. The...

Revision u/s 263 by CIT - taxation being anonymous donation received in cash u/s 115BBC - According to the provisions of Section 115BBC, on anonymous donation tax is...

Revision u/s 263 - capital gains computation on the sale by the assessee of 23 acres of his land - the cost adopted by him was neither enquired into in assessment nor,...

The Appellate Tribunal held that the issues on which the reassessment order was passed u/s 147 read with Section 143(3) and the issues on which the revision order was...

Formation of belief by the Assessing Officer that income has escaped assessment is the crux of the reopening provision. The reasons recorded must be based on tangible...

Revision u/s 263 by CIT - The fact remains that the specific issue mentioned and has been examined and the contention of the assessee accepted by the Assessing Officer....

Revision u/s 263 by CIT - Merely because the AO did not write specific reasons for accepting the explanation of the assessee cannot be reason enough to invoke powers...

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 - Invocation of revision proceedings for the second time - As pertinent to point out that there was no bar on limitation by the ld. PCIT to invoke...

Reopening of assessment u/s 147 - ‘reasons to believe’ and ‘reasons to suspect’ - Merely on the basis of suspicion observed that the aforesaid entry might be a bogus...

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...

Quick Updates: