Validity of Revision u/s 263 - Even if it were to be accepted ...

Income Tax Revision Upheld: Original Assessment Misapplied Section 44AD for Transactions Over Rs. 60 Lakhs.

November 6, 2023

Case Laws Income Tax AT

Validity of Revision u/s 263 - Even if it were to be accepted that the assessment has been completed by mere reference to the provisions of section 44AD by the AO, even then, in our view Principal CIT was correct in observing that reference could not have been drawn to the said provisions as the total quantum of transaction was exceeding Rs. 60 lacs in the year under consideration. - Revision order sustained - AT

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Validity of Revision u/s 263 - Even if it were to be accepted ...

Income Tax Revision Upheld: Original Assessment Misapplied Section 44AD for Transactions Over Rs. 60 Lakhs.

November 6, 2023

Case Laws Income Tax AT

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