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 March 2020 Year 2020 This

Revision u/s 263 - Default in computation of amount eligible for ...


Assessing Officer's Decision on Section 80IA Deduction Upheld; No Error Found in Revenue Interest Assessment.

March 17, 2020

Case Laws     Income Tax     AT

Revision u/s 263 - Default in computation of amount eligible for deduction u/s 80IA - The AO has passed the assessment order after calling for details on the issue and after considering the reply and documents after verification of the same and after due application of mind passed the assessment order, so it cannot be termed as erroneous and prejudicial to the interest of the revenue. - AT

View Source

 


 

You may also like:

  1. Revision u/s 263 - PCIT has used only probability and likelihood to find the error in the assessment order which is not permitted, he ought to find out specific error in...

  2. The assessee, a company engaged in development/construction and sale of flats and plots, had classified its properties into four categories: flats open for sale, let-out...

  3. Deduction of broken period interest paid on securities and deduction of expenditure incurred on the issue of Fully Convertible Debentures (FCDs). Regarding broken period...

  4. Error apparent on record rectified by allowing Revenue's appeal instead of wrongly dismissing it, as logical conclusion of upholding Revenue's contentions. Rectification...

  5. Deduction claimed u/s 57 against income returned u/s 56 - manner of apportioning assessee's expenses to earning income u/s 56 disputed - Revenue authorities rejecting...

  6. Deduction u/s 35(2AB) for in-house Research and Development (R&D) expenses was disallowed as the assessee failed to properly explain the basis of claim and reconcile the...

  7. The ITAT addressed various issues including disallowance u/s 14A r.w.r.8D, where Revenue challenged deletion of disallowance made by AO. ITAT upheld CIT(A)'s decision,...

  8. Assessment u/s 153A - Addition u/s 69A by the Assessing Officer on account of difference in amount credited in bank and sale proceeds shown in the income tax return. It...

  9. Validity of revision u/s 263 regarding eligibility for deduction u/s 80P(2)(d) on interest income from deposits with a cooperative bank was examined. It was held that...

  10. Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

  11. The High Court held that reopening of assessment u/s 147 was not valid where the Assessing Officer had previously examined the claim for deduction of foreign exchange...

  12. Deduction u/s.35 AD(5)(aa) - whole of capital expenditure incurred for purpose of development of hotel claimed - We restore the issue to file of the Assessing Officer...

  13. Deduction u/s 80P(2)(a)(i) was denied by the Assessing Officer on grounds that the assessee society cannot be termed a mutual concern and principles of mutuality cannot...

  14. CIT(A) restricted addition on account of accommodation entries to 15% instead of 100%, as the Assessing Officer failed to establish that work was not actually performed....

  15. The ITAT held that the assessee bank was eligible for deduction u/s 36(1)(viia) for its rural branches. The Assessing Officer had erroneously rejected the rural branch...

 

Quick Updates:Latest Updates