Revision u/s 263 - Expenditure incurred on payments to sister ...

Revision u/s 263: Assessing Officer's Inaction on Sister Concerns' Expenditures Deemed Prejudicial u/s 40A(2)(b).

May 13, 2020

Case Laws Income Tax AT

Revision u/s 263 - Expenditure incurred on payments to sister concerns u/s 40A(2)(b) - Inaction on the part of the AO has caused prejudice to the Revenue as contemplated u/s 263 - The plea of the assessee that the payment incurred towards services rendered by sister concern to be revenue neutral is also without any supporting evidence. It is not the tax rate but the tax amount in absolute figures which matters.

View Source

← Previous Next →

Revision u/s 263 - Expenditure incurred on payments to sister ...

Revision u/s 263: Assessing Officer's Inaction on Sister Concerns' Expenditures Deemed Prejudicial u/s 40A(2)(b).

May 13, 2020

Case Laws Income Tax AT

You may also like:

Revision u/s 263 - addition u/s 68 - The Assessing Officer has taken a possible view. When the Assessing Officer follows the direction of the Ld. Pr. CIT, in his order...

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 - Explanation 2 to section 263 (Deeming erroneous order) is applicable only when there is no enquiry made by the Assessing Officer.

The Appellate Tribunal dismissed the assessee's appeal regarding the revision u/s 263 concerning unsecured loans received. The Principal Commissioner found that the...

Revision u/s 263 - assessment order as contrary to the draft assessment order - The remedy against unjust disallowances, on merits, lies in the appellate process and not...

Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

Revision u/s 263 - Once the valuation report has not been sent by the valuation officer to the assessing officer/assessee, within the period stipulated by the act that...

The Appellate Tribunal considered a case involving a revision u/s 263, where the Commissioner contended that the Assessing Officer did not adequately inquire into Long...

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...

Revision u/s 263 - Characterization of income - Real estate business - Assessing Officer has conducted sufficient enquiry as required under Explanation 2(a) to Section...

The Commissioner of Income Tax (CIT) invoked Section 263 to revise the Assessing Officer's (AO) order, disallowing the amount paid on termination of an agreement,...

Section 263 revision - Unexplained income u/s 69A read with Section 115BBE - Cash seized shown as 'income from other sources' - Whether to be treated as unexplained...

Revision u/s 263 - CIT has merely directed the Assessing Officer to make an elaborate inquiry. - revision is not valid - AT

Additions towards written off of creditors - cessation of liability - there is no liability in the Books of Accounts as per the transfer of the projects to its sister...

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...

Quick Updates: