Revisional powers u/s 263 with respect to the deduction claimed ...

Principal Commissioner Confirms Section 263 Action: Interest on Tax Refund Incorrectly Included in Section 36(1)(viii) Deduction.

March 11, 2022

Case Laws Income Tax AT

Revisional powers u/s 263 with respect to the deduction claimed u/s 36 (1) (viii) - With respect to the inclusion of interest on income tax refund considered both by the assessee as well as by the learned assessing officer as part of long-term finance income of the assessee, the assessee itself agreed that there is an error and it should not have been included in the long-term finance income of the assessee. - the action of the learned principal Commissioner of income tax u/s 263 of the act is confirmed to that extent only. - AT

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Revisional powers u/s 263 with respect to the deduction claimed ...

Principal Commissioner Confirms Section 263 Action: Interest on Tax Refund Incorrectly Included in Section 36(1)(viii) Deduction.

March 11, 2022

Case Laws Income Tax AT

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