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 - Bogus purchases - it is not understood what ...

Case Laws     Income Tax

January 20, 2020

Revision u/s 263 - Bogus purchases - it is not understood what more can be achieved by setting aside the assessment order and restoring the issue to him for making a fresh assessment without any specific direction - exercise of power u/s 263 in the facts of the instant case is not valid.

View Source

 


 

You may also like:

  1. Revision u/s 263 - claim of exemption u/s 54 - the purchases of land do not entitle the assessee for the exemption u/s 54 - Therefore, we fail to understand when the...

  2. Revision u/s 263 - assessee has made purchases in cash - when the learned assessing officer was not required to enquire on those issues such as purchases in cash more...

  3. Revision u/s 263 - bogus purchases - documents like invoices, given details of stocks, payments through the banking channels and confirmation from parties examined by AO...

  4. 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...

  5. 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...

  6. Revision u/s 263 - It is evident that A.O. made enquiries on the issue and assessee complied to the enquiries and filed all the required details. Thus, it is not a case...

  7. Estimation of income - bogus purchases - The Tribunal considered the facts surrounding the alleged bogus purchases. Despite the inability of the assessee to establish...

  8. Service tax demand on Goods Transport Agency (GTA) services rendered on reverse charge basis set aside as appellant did not collect service tax from service recipient....

  9. Revision u/s 263 by CIT - Pr.CIT has not conducted any enquiry after receipt of the reply of the assessee - under the provisions of Section 263 of the Act. Ld. Pr.CIT...

  10. Revision u/s 263 by CIT - bogus loss on shares - penny stock transactions - Reliance on audit objection given by the audit party - As safely concluded that the ld. AO...

  11. Revision u/s 263 by CIT - Bogus purchases - CIT had clear cut information that the creditors relating to these purchases were bogus. He had given sufficient...

  12. Additions towards Bogus purchases - Estimation of profit - Purchases are to be removed, the corresponding sale is also required to be removed from the profit and loss...

  13. Revision u/s 263 - AO drop the proceedings u/s 147 satisfying that no escapement earlier alleged - when for the AO it was no more open for him to travel to other...

  14. Validity of revision u/s 263 - subsequent revision orders - first order set aside by PCIT - ITAT quashing revisionary proceedings - adoption of accrual basis of...

  15. The Rajasthan High Court examined the validity of revision proceedings u/s 263 concerning the period of limitation. The issue was whether the period of limitation for...

 

Quick Updates:Latest Updates