Power of CIT(A) enhancing the income of the assessee u/s. ...

Case Laws Income Tax

April 16, 2021

Power of CIT(A) enhancing the income of the assessee u/s. 251(1)(a) r.w.s. 251(2) - The Ld. CIT(A) is not empowered to enhance the assessment by computing book profits U/s. 115JB of the Act, as it is a separate code. - This issue whether book profits can be computed U/s. 115JB of the Act, when the GTI and TI of the assessee are Nil and no taxes payable, is adjudicated in favour of the assessee - AT

View Source

← Previous Next →

Power of CIT(A) enhancing the income of the assessee u/s. ...

Case Laws Income Tax

April 16, 2021

You may also like:

The jurisdictional Assessing Officer (AO) had suo moto transferred the assessment to Income Tax Officer (ITO), Ward 2(2) Noida. The appellant contended that the...

The case pertains to the treatment of income received from an arbitral award in the assessment year. The AO passed an assessment order u/s 143(3) after the case was...

Power of CIT(A) for enhancement u/s 251(2) - Enhancing the assessed income by making disallowances of deferred revenue expenses - There is no material on record...

Enhancement of income made by CIT(A) u/s 251(1) - valuation of shares - Rule 11UA(2)(b) - Discounted Cash Flow Method (DCF) - the CIT(A) have committed an error in...

The High Court examined the jurisdiction of the Assessing Officer (AO) and the prescribed income-tax authority to issue notices u/s 143(2) of the Income Tax Act. It held...

Enhancement made by the Ld. CIT(A) u/s 251(1) r.w.s. 56(2) (viib) - AO substituted fair market value determined by the assessee through his own valuation - Assessees...

Exemption u/s 11 - claiming benefit of accumulation u/s 11(2) over deemed income u/s 11(3) - non application of income - the assessee should not be eligible to claim...

The Income Tax Appellate Tribunal (ITAT) examined the issue of merger of intimation u/s 143(1) and scrutiny assessment u/s 143(3) of the Income Tax Act. The case...

Power of CIT(A) to enhance the assessment - It is pertinent to note that requirement of issuing show cause notice is must prior to enhancement of the assessment as...

Exemption u/s 11(1)(a) and Section 11(2) for Deemed income u/s 11(3) - Assessee would be allowed to accumulate the income if there is “real income” which is in...

Validity of assessment order - Discrepancy Nos. 1, 2, 10, and 11: The discrepancies include issues such as non-GST supplies, alleged mismatch between GSTR-3B and GSTR-1...

Validity of reopening of assessment u/s 147 - AO did not issue the notice under section 143(2) - It is the discretion of the Assessing Officer to accept the return of...

Reopening of assessment u/s 147/148 - failure to issue notice u/s 143(2) - reopening of assessment is not valid as the Income Tax Department has power to conduct the...

Power of CIT(A) to enhance the income - He could have done that only after issuing a notice u/s 251(2) - Since no such notice was issued, the order dated 13.03.1997...

The assessee's case was selected for limited scrutiny under CASS. The PCIT observed that the assessee, along with two co-owners, had purchased an immovable property...

Quick Updates: