Revision u/s 263 - receipt of on-money - incriminating material ...

Case Laws Income Tax

August 20, 2021

Revision u/s 263 - receipt of on-money - incriminating material found in search or not? - PCIT should himself have conducted the enquiry or causing to make such enquiries have passed the order under Section 263. In the present case, despite the material available on record, no further enquiry were made by the PCIT and had simply relied upon the finding recorded by the CIT Appeal in the hands of co-owners. - the order passed by the PCIT under Section 263 was without any jurisdiction - AT

View Source

← Previous Next →

Revision u/s 263 - receipt of on-money - incriminating material ...

Case Laws Income Tax

August 20, 2021

You may also like:

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

Validity of assessment u/s 153A regarding unexplained cash credits u/s 68, absence of incriminating material found during search proceedings, and lack of valid approval...

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...

Undisclosed income - receipt of on-money by cash - Simply because the purchaser has admitted on-money payment is not sufficient. Particularly, in this case, a search was...

Assessment u/s 153A - additions in unabated assessments - additions in unabated assessments without any incriminating material found during the course of search u/s 132...

Reopening of assessment u/s 147 or assessment u/s 153C - reassessment was made based on the materials found in the course of search conducted on third party - The...

Proceedings u/s 153A were initiated based on alleged incriminating material found during search, however, the material relied upon was a laptop recovered from Mumbai...

Revision u/s 263 - unexplained cash deposit during the demonization period - The tribunal noted that the AO had conducted an adequate inquiry into the assessee's cash...

Penalty u/s 271AAB for unexplained cash commission expenses u/s 69C cannot be imposed if the additional income disclosed by the assessee in the return of income is not...

Additions u/s 153A solely based on a sketchy statement of an accountant u/s 132(4), which in turn is based on a confessional statement of a director in a previous...

Revision u/s 263 by CIT - the assessee had duly explained as to why certain receipts though subjected to TDS, would not be liable to be offered to tax such as...

Revision u/s 263 - successor PCIT / CIT did not agree with his predecessor - second revision order - assessment has been set aside or de novo assessment - sending of the...

Assessment u/s 153A - Addition u/s 68 - bogus LTCG - penny Stocks - whether documents found during the course of search were of incriminating nature? - The tribunal...

Revision u/s 263 - assessment order passed u/s 153A r.w.s 143(3) - no any incriminating material unearthed by search team therefore Assessing Officer’s order is not erroneous.

Assessment u/s 153A - incriminating material found in search or not? - On the date of search, admittedly, the assessment with respect to the AY under consideration...

Quick Updates: