Revision u/s 263 by CIT - PCIT himself has not carried out any ...

Case Laws Income Tax

October 8, 2021

Revision u/s 263 by CIT - PCIT himself has not carried out any examination or verification of facts and has simply directed the AO to ‘may verify Form 10CC and initial years assessment orders of each business based on the contract entered with Railways’. PCIT has merely set aside to indulge in verification of the same facts yet again without citing as to how the AO has committed any error except alleging no proper enquiry. - As no two persons possibly think alike, variance in their analysis, understanding and application of law in same or similar factual matrix by itself would not empower a superior authority to displace the view of the lower authority. - AT

View Source

← Previous Next →

Revision u/s 263 by CIT - PCIT himself has not carried out any ...

Case Laws Income Tax

October 8, 2021

You may also like:

Revision u/s 263 - deduction claimed towards R&D expenditure incurred for Bio-pharma division - AO without considering relevant facts simply allowed the claim of the...

Revision u/s 263 - The assessment order is very cryptic without speaking about the verifications made by the AO for which the return filed by the assessee was selected...

Revision u/s 263 - lack of inquiry by AO - it is a case where the AO did not make any inquiry vis-à-vis the share premium and simply accepted the details filed by the...

The assessee failed to claim the Minimum Alternate Tax (MAT) credit in the original income tax return and did not file a revised return. The Assessing Officer (AO) did...

Revision u/s 263 - tds credit issue non examination by AO - non examination of an issue by the AO renders the assessment erroneous and prejudicial to the interests of the revenue

Revision u/s 263 by CIT - The Explanation–2 to section 263 of the Act can be invoked only when no enquiries or verification is carried on otherwise it cannot be invoked....

Revision petition u/s. 264 - disallowance of carry forward of loss to subsequent years - CIT while disposing of the 264 petition of the assessee, had clearly directed...

Revision u/s 263 - Once AO has carried out detailed inquiry and verification of the documents and was satisfied with the net profit shown by the eligible unit as well as...

Revision u/s 263 by CIT - Having come to a conclusion that the income should be taxed under the had ‘income from other sources’ it was not open to the PCIT to direct the...

AO failed to conduct proper inquiries regarding genuineness of loan transactions for property acquisition. Bank statements revealed assessee lacked funds, payments made...

Revision u/s 263 - lack of verification and application of mind by AO - AO could not download the unit-wise balance sheets due to technical error - A mere observation...

Revision u/s 263 - period of limitation - CIT may enhance, modify or cancel the assessment order and may also direct the AO to cause examination of the details and...

Revision u/s 263 - wrongful Capital gain computation - As further seen from the Revision Order the assessee has not made the claim of Stamp Duty expenses which is also...

Revision u/s 263 - There was no enquiries raised by the AO about the mismatch in the amount of gross receipts shown by the assessee viz a viz reported in the form 26AS...

Revision u/s 263 - Disallowance of genuineness of salary and other expenses - payment of huge salary in cash - AO passed the order without proper verification is...

Quick Updates: