Revision u/s 263 - AO had issued u/s. 142(1) and has enquired ...

Case Laws Income Tax

July 5, 2021

Revision u/s 263 - AO had issued u/s. 142(1) and has enquired about the details of sale of flat and LTCG etc. by asking question - AO had enquired about the issue of LTCG on sale of flat and has discharged his duty as on investigation and cannot be faulted; and allowing the interest expenditure (capitalized) and which becomes part of the cost of acquisition in the facts of this case is allowable, and is a plausible view and so it cannot be held erroneous and at any rate be held un-sustainable view in law. - AT

View Source

← Previous Next →

Revision u/s 263 - AO had issued u/s. 142(1) and has enquired ...

Case Laws Income Tax

July 5, 2021

You may also like:

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...

Revision u/s 263 - the defects noticed by the ld. PCIT in respect of computation of LTCG and advance payment received - No question has been asked on the above aspects...

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...

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...

The ITAT dealt with a case involving a Revision u/s 263. The PCIT alleged that the AO did not inquire into cash deposits during demonetization or non-disclosure of...

Revision u/s 263 - As the assessment was completed after making required amount of enquiry and there was no lake of enquiry or investigation by the AO on the issues...

Assessee surrendered income during survey u/s 133A as unaccounted professional receipts, which AO accepted as professional income taxable at normal rates. PCIT invoked...

Penalty u/s 271(1)(b) - default on the part of the assessee for not complying with the notices issued by the AO u/s 142(1) - Even if the AO issued 4 notices under...

Revision u/s 263 - AO though made inquiry about the claim made by the assessee, however, not discussed the same while passing assessment order. - It can be seen from the...

Penalty u/s 271(1)(c) - non-compliance of notice issues - if the quantum proceedings itself are declared to be bad in law and quashed , then any non compliance on the...

Penalty levied u/s 271(1)(b) - failure to comply with the notices issued by the A.O u/s 142(1) - the non-compliance on the part of the assessee is due to the reason of...

The assessee was allowed deduction u/s 54/54F without proper examination of relevant details and materials. The Assessing Officer (AO) framed the assessment u/s 143(3)...

Revision u/s 263 by CIT - Even if we agrees to the contention of the Ld. A.R. of the assessee that Explanation 2(c ) below section 263(1) of the Act is not applicable...

Revision u/s 263 - The revenue is disputing on non conduct of enquiry, but we find the assessee firm has discharged its burden of proof on submitting the vital requisite...

Penalty u/s 271(1)(b) - default / non-compliance of notice issued u/s 142(1) - AO has completely ignored the request of the assessee then the question of paying the...

Quick Updates: