Revision u/s 263 by CIT - AO’s order allowing claim of exemption ...

CIT Revises Assessment u/s 263: AO's Exemption Claim on Land Transfer Deemed Erroneous, Revision Order Upheld.

January 13, 2023

Case Laws Income Tax AT

Revision u/s 263 by CIT - AO’s order allowing claim of exemption is in error on account of the transfer of land not having been by way of compulsory acquisition alone.The issue of whether used for agricultural purposes or not prior to transfer therefore becomes only academic for adjudicating whether the order passed by the Ld.PCIT holding the assessment order to be erroneous was in accordance with law. - Revision order sustained - AT

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Revision u/s 263 by CIT - AO’s order allowing claim of exemption ...

CIT Revises Assessment u/s 263: AO's Exemption Claim on Land Transfer Deemed Erroneous, Revision Order Upheld.

January 13, 2023

Case Laws Income Tax AT

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