Revision u/s 263 - lack of inquiry by AO - it is a case where ...

Case Laws Income Tax

October 18, 2022

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 assessee and, thus, the AO had failed miserably to carry out the duty cast upon him. Therefore, it is our considered view that it is a case of complete lack of inquiry by the AO - Revision order sustained - AT

View Source

← Previous Next →

Revision u/s 263 - lack of inquiry by AO - it is a case where ...

Case Laws Income Tax

October 18, 2022

You may also like:

Revision u/s 263 - Issue of shares at premium - It is abundantly clear that an enquiry was, indeed, made by the AO with regard to the subject shares being issued at high...

The Appellate Tribunal examined the issue of invoking revisional jurisdiction u/s 263 in a case involving receipts of accommodation entries and reopening of assessment....

Revision u/s 263 - There is no quarrel on the point that if the AO has raised the query on this issue of applicability of provision of section 115BBE which was replied...

Revision u/s 263 by CIT - lack of inquiry v/s inadequate inquiry - apparently from the records and as per the observations of the Ld. PR. CIT, coupled with the failure...

Revision u/s 263 by CIT - It is the duty of the AO to ascertain the truth of the facts stated / submitted by the assessee especially when the circumstances of the case...

Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

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 - 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...

Section 263 revision - derivative transactions losses - inadequate inquiry by Assessing Officer (AO). Commissioner of Income Tax (CIT) set aside AO's order for...

Revision u/s 263 - Lack of enquiry is a reason for taking up the case for revision u/s 263 of the Act but the inadequate enquiry cannot be a reason for taking up the...

Revision u/s 263 - Bogus LTCG/Share transaction - as per CIT AO failed to make necessary enquiries to ascertain the actual strength of the company, investment profile of...

Revision u/s 263 - When the order of the AO suffers from a complete lack of enquiry, then the above said principle has no application due to the obvious reason that the...

Revision u/s 263 - determination of assessee share as per will of father - the assessee had filed the copy of the last will and testament of his father, sale deed of the...

Revision u/s 263 - AO has not applied his mind to the issue of share transactions for which the detailed information is available regarding the suspicious nature of the...

Quick Updates: