The Appellate Tribunal considered a case involving a revision ...

Revision u/s 263 - discrepancies in assessment - undisclosed TDS, wrong deductions. Tribunal held PCIT didn't act independently.

Case Laws Income Tax

June 14, 2024

The Appellate Tribunal considered a case involving a revision u/s 263 due to discrepancies in the assessment order, including undisclosed TDS, differences in purchases in ITR, and incorrect deductions leading to under-assessment. The Tribunal referenced a previous case where it was established that the Principal Commissioner of Income Tax (PCIT) did not independently exercise jurisdiction u/s 263 but acted on the AO's proposal. The Tribunal noted that in this case, the AO also based the proposal on audit report objections. The Tribunal found that the PCIT did not apply an independent mind, as the notice u/s 263 mirrored the AO's proposal and audit report. Consequently, the Tribunal set aside the order u/s 263, ruling in favor of the assessee.

View Source

← Previous Next →

The Appellate Tribunal considered a case involving a revision ...

Revision u/s 263 - discrepancies in assessment - undisclosed TDS, wrong deductions. Tribunal held PCIT didn't act independently.

Case Laws Income Tax

June 14, 2024

You may also like:

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...

Revision u/s 263 - Assessment u/s 153C - revision of invalid assessment - the present proceedings being collateral proceedings and if the assessment order is inherently...

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 - Deduction u/s 80IC - Since, AO had not expressed any view in that behalf as is discernible from the assessment order, revision order sustained.

Revision u/s 263 - deduction u/s 54 - capital gains/ loss - During the assessment proceedings as well as revision proceeding the assessee had submitted the documentary...

Revision u/s 263 by CIT - wrong claim of deduction u/s. 80JJA - the AO has not brought out anything explicitly and not recorded any finding with regard to the deduction...

Revision u/s 263 - Deduction u/s 80I - what the learned tribunal ought to have noted is that whether the assessing officer/PCIT can revisit the claim which was accepted...

Revision u/s 263 - Incorrect claim of weighted deduction u/s 35(1)(ii) - there can be no two views that when the assessment order was passed by the AO, assessees claim...

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 by CIT(A) - The reasons for non deduction of TDS stated by the assessee that the company was going through the process of demerger does not impress us...

Revision u/s 263 by CIT - The subject matter of the deduction in the reassessment order was the quantum of deduction but not the eligibility of the deduction and even in...

Revision u/s 263 by CIT - the assessee had duly explained as to why certain receipts though subjected to TDS, would not be liable to be offered to tax such as...

Revision u/s 263 - period of limitation for passing order - Only in a case where the issues before the Commissioner at the time of exercising powers u/s 263 relate to...

Revision u/s 263 - Period of limitation - To be commenced from original assessment order or re-assessment order u/s 147 - In the case on hand, the jurisdiction under...

Revision u/s 263 - Suo moto revisional proceeding initiated - The Gauhati High Court allowed the writ petition and set aside the Show Cause Notice and the ex-parte Order...

Quick Updates: