Revision u/s 263 - assessee has made purchases in cash - when ...

April 24, 2023

Case Laws Income Tax HC

Revision u/s 263 - assessee has made purchases in cash - when the learned assessing officer was not required to enquire on those issues such as purchases in cash more than specified sum, the learned CIT was not correct in holding that the learned assessing officer has not made due inquiries on that ground as the verification of the purchases exceeding specified limit in cash was not an issue before the assessing officer. Naturally, he should not have made any enquiry on that aspect. - ITAT rightly set aside the order - HC

View Source

← Previous Next →

Revision u/s 263 - assessee has made purchases in cash - when ...

April 24, 2023

Case Laws Income Tax HC

You may also like:

Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

Revision u/s 263 by CIT - taxation being anonymous donation received in cash u/s 115BBC - According to the provisions of Section 115BBC, on anonymous donation tax is...

Revision u/s 263 by CIT - Unexplained bank deposits - PCIT, without making further inquiry on his own account, has simply stated in the impugned order that the Assessing...

Revision u/s 263 - assessment order as contrary to the draft assessment order - The remedy against unjust disallowances, on merits, lies in the appellate process and not...

Section 263 revision - Unexplained income u/s 69A read with Section 115BBE - Cash seized shown as 'income from other sources' - Whether to be treated as unexplained...

Revision u/s 263 by CIT - cash payment made for purchase of old gold jewellery - Actually the assessee has not made any purchases in cash in alleged transactions and...

Revision u/s 263 - addition u/s 68 - The Assessing Officer has taken a possible view. When the Assessing Officer follows the direction of the Ld. Pr. CIT, in his order...

Validity of Revision u/s 263 - Whether inquiry or verification was not made by the Assessing Officer - Appellant, Revenue, is not in a position to point out as to what...

The Appellate Tribunal held that the issues on which the reassessment order was passed u/s 147 read with Section 143(3) and the issues on which the revision order was...

Assessing Officer conducted due enquiries regarding cash deposits during demonetization period, called for details from assessee to substantiate source. AO applied mind,...

Additions based on mismatch in annual information return - If the assessee can reconcile such difference and even otherwise satisfy the learned assessing officer, that...

Revision u/s 263 - an order which is erroneous and prejudicial to the interest of Revenue - When all the evidences relating to commission/brokerage paid by assessee both...

Revision u/s 263 by CIT - receipt of share premium - the power of revision u/s 263 does not allow for supplanting or substituting the view of the Assessing Officer. The...

Revision u/s 263 by CIT - Pr.CIT has ignored the replies of the assessee and he has not discussed as to why he does not agree with the contentions of the assessee. The...

Revision u/s 263 - Characterization of income - Real estate business - Assessing Officer has conducted sufficient enquiry as required under Explanation 2(a) to Section...

Quick Updates: