Revision u/s 263 - AO has totally overlooked that the assessee ...

Case Laws Income Tax

January 15, 2024

Revision u/s 263 - AO has totally overlooked that the assessee is not eligible for deduction u/s. 80IB(11) - The contention of the ld. A.R. that this is a mistake and it should have been rectified u/s. 154 will also not come in picture because the assessee has claimed deduction under the section which is not applicable to the assessee and has not pointed out this mistake at the assessment proceedings or after the assessment order passed. - AT

View Source

← Previous Next →

Revision u/s 263 - AO has totally overlooked that the assessee ...

Case Laws Income Tax

January 15, 2024

You may also like:

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

The Appellate Tribunal reviewed a case involving a revision u/s 263 related to deduction u/s 80P(2)(a)(i). The AO allowed interest income from FD investments as a...

Deduction u/s 80IB - whether freight charges recovered from the customers are eligible for deduction under section 80IB ? - since the department has allowed the claim of...

Revision u/s 263 involving excess deduction of transport expenses and non-deduction of TDS on transportation charges. CIT held AO failed to verify adequately, rendering...

Revision u/s 263 - exemption u/s 11(2) - all the technical requirements were duly fulfilled by the assessee along with satisfactory response to the queries raised...

AO failed to conduct proper inquiries regarding genuineness of loan transactions for property acquisition. Bank statements revealed assessee lacked funds, payments made...

Revision u/s 263 - Exemption u/s 11 - If the order of the AO does not disclose the basis of his conclusion, then jurisdiction u/s 263 of the Act can be ignored....

Validity of Revision u/s 263 - Admisibility of Deduction u/s 80P, Deduction from total income under chapter VI-A and business expenses - The ITAT quashed the order...

Revision u/s 263 - AO though made inquiry about the claim made by the assessee, however, not discussed the same while passing assessment order. - It can be seen from the...

Revision u/s 263 by CIT - Allowability of claim of deduction u/s. 80IB(10) - In case Revenue authorities are not satisfied with the contents of the completion...

Appraisal report available but AO ignored, a fit case for revision u/s 263 - HC

Allowance of standard deduction u/s 24(a), deduction for actual repairs, and deduction of accumulated income u/s 11(2) in the case of a charitable trust claiming...

Revision u/s 263 - unexplained cash deposit during the demonization period - The tribunal noted that the AO had conducted an adequate inquiry into the assessee's cash...

Revision u/s 263 - as per CIT AO had wrongly allowed the assessee exemption of capital gains claimed u/s 54B - Tribunal found that neither any inquiry was made by the AO...

Revision u/s 263 - It is evident that A.O. made enquiries on the issue and assessee complied to the enquiries and filed all the required details. Thus, it is not a case...

Quick Updates: