Revision u/s 263 by CIT - Deduction of expenses from additional ...

Principal CIT's Section 263 revision deemed invalid; Assessing Officer's decision on Section 69A expenses upheld.

November 14, 2022

Case Laws Income Tax AT

Revision u/s 263 by CIT - Deduction of expenses from additional income (on money) declared u/s 69A - service tax which is related to “on money” and remuneration paid to partners - Since the order of the AO cannot be held to be erroneous as well as prejudicial to the interest of the revenue, in the facts and circumstances narrated above, the usurpation of jurisdiction exercising revisional jurisdiction by the Principal CIT is “null” in the eyes of law - AT

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Revision u/s 263 by CIT - Deduction of expenses from additional ...

Principal CIT's Section 263 revision deemed invalid; Assessing Officer's decision on Section 69A expenses upheld.

November 14, 2022

Case Laws Income Tax AT

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