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 January 2020 Year 2020 This

Revision u/s 263 - allegation of accommodation entry taken - Pr. ...


Pr. CIT Validly Uses Section 263 to Revise Erroneous Assessment, Protecting Revenue from Alleged Accommodation Entries.

January 1, 2020

Case Laws     Income Tax     AT

Revision u/s 263 - allegation of accommodation entry taken - Pr. CIT has rightly exercised his jurisdiction under section 263 of the Act in setting aside the order of the Assessing Officer being erroneous in so far it is prejudicial to the interest of the Revenue

View Source

 


 

You may also like:

  1. Revision u/s 263 - reopening of assessment u/s 147 - period of limitation - these issues are not such which can render the assessment erroneous. Similarly what prejudice...

  2. Revision u/s 263 - Assessment u/s 153C - revision of invalid assessment - the present proceedings being collateral proceedings and if the assessment order is inherently...

  3. Provisional attachment to protect revenue u/s 281B - it was only meant to protect the interest of the revenue during the pendency of the assessment proceedings - after...

  4. Revision u/s 263 - order framed u/s 153A - The Tribunal (ITAT) held that, the assessment orders approved u/s 153D cannot be revised u/s 263 without first revising the...

  5. The AO's order was not erroneous or prejudicial to the revenue's interests. The filing fee for increasing share capital was rightly allowed as revenue expenditure,...

  6. Revision u/s 263 - an order prejudicial and erroneous to the revenue - though the order passed by the A.O. is prejudicial to the interest of the revenue but it is not...

  7. Penalty u/s 271(1)(c) - addition made on protected assessment - addition in this case was made on protected assessment/addition on estimated basis which is against the law - AT

  8. Assessee received funds from four parties, which were not considered by the Assessing Officer (AO) during assessment proceedings u/s 147 read with Section 144. The...

  9. Section 264 empowers Commissioner to revise assessment order to provide relief to assessee in cases of over-assessment, even if assessee did not file revised return....

  10. GST Revenue Collections and revised estimate for the Year 2018-2019

  11. Revision u/s 263 by CIT - The phrase prejudicial to the interest of revenue has to be read in conjunction with an erroneous order passed by the A.O. Every loss of...

  12. Revision u/s 263 - loss on OTS - since the AO has ignored the relevant provisions of the Act before allowing the claim of the assessee of loss on OTS account and without...

  13. The opinion of the Assessing Officer may have been legally erroneous but this cannot be a ground for initiation of re-assessment proceedings. An erroneous decision which...

  14. Validity of assessment order - alleged discrepancies in returns filed by the petitioner - The case involved a challenge to an assessment order by a petitioner in the...

  15. Revision u/s 263 - MAT - assessment of the prior period income’s assessment for the purpose of sec.115JB computation as per the scheme of settlement of case - once the...

 

Quick Updates:Latest Updates