Revision u/s 263 - selection of the case under limited scrutiny ...

Case Laws Income Tax

June 9, 2023

Revision u/s 263 - selection of the case under limited scrutiny - expansion scope of limited scrutiny - As per CIT high sea sales is speculative transaction and therefore disallowance of loss arising therefrom against the non speculative business income - AO cannot go beyond reasons for of limited scrutiny and thus, it would not be open to the PCIT to pass revisionary order u/s 263 on other aspects and remit matter to AO for fresh assessment. - AT

View Source

← Previous Next →

Revision u/s 263 - selection of the case under limited scrutiny ...

Case Laws Income Tax

June 9, 2023

You may also like:

Revision u/s 263 - deduction claim u/s 80IA and excess claim of depreciation - Case of assessee as selected for limited scrutiny - - revisional jurisdiction u/s 263...

Power of revision - scope of assessment under limited scrutiny - It is settled position of law that while completing the assessment under limited scrutiny, the Assessing...

Revision u/s 263 - scope of limited scrutiny - PCIT has directed the AO to pass the assessment order afresh ignoring that when the case is selected for limited scrutiny,...

Revision u/s 263 enlarging scope of limited scrutiny - PCIT want to enlarge the scope of limited scrutiny for which power is not available with the PCIT u/s. 263 of the Act, - AT

Revision u/s 263 - Non Verification of cash deposits and purchase of property - The order u/s 263 passed by the ld. PCIT dwelled into the issue of “re-computation of...

The Appellate Tribunal considered a case involving the revision u/s 263 of the Act regarding the allowability of deduction of interest claimed u/s 57. The Tribunal held...

Revision u/s 263 by CIT - AO was not authorized to carry out enquiry beyond the scope of the reasons for which the case was selected under limited scrutiny and therefore...

Revision u/s 263 by CIT - limited scrutiny assessment - Based on the information mentioned in the revisionary order, the learned PCIT should have reprimanded the...

Revision u/s 263 - scope of limited scrutiny - the issue of valuation of closing work-in-progress as well as matter relating to agriculture income, which are held by the...

Scope of limited scrutiny - cash deposits in the Bank accounts being more than the turnover - The impugned addition made by the AO on account of profit allegedly earned...

Case involved revision u/s 263 by the Commissioner of Income Tax (CIT) setting aside assessment order regarding rent recovered from specified persons and treatment of...

Revision u/s 263 - once the AO cannot examine any other issue except the issue as selected for limited scrutiny assessment, the PCIT can examine the only issue which was...

The case pertains to the scope of limited scrutiny by the assessing officer regarding computation of capital gains u/s 45 and providing exemption u/s 54B of the Income...

Revision u/s 263 - Ld. Pr. CIT exercising jurisdiction under section 263 of the Act, directed the AO to make fresh assessment on the issues which were not the subject...

Revision u/s 263 - limited scrutiny assessment - there is no such credible material or information which would justify widening the scope of limited scrutiny. Therefore,...

Quick Updates: