CIT invoked revisionary jurisdiction u/s 263 alleging AO did not ...

AO's reassessment order upheld; CIT can't reexamine same material u/s 263.

Case Laws Income Tax

September 16, 2024

CIT invoked revisionary jurisdiction u/s 263 alleging AO did not examine provision for subcontracting expenses and refund claim during reassessment proceedings. Assessee contended queries were addressed u/s 133(6). ITAT held CIT cannot reappreciate same material considered by AO in reassessment, as legal presumption under Evidence Act exists that AO passed order properly. AO duly deliberated on subcontract expenses after issuing questionnaire. Refund issue was consequential to reassessment order without specific AO order, precluding CIT's jurisdiction u/s 263. Assessee cannot agitate Section 154 order not challenged. Case laws cited were distinguished on facts. Impugned CIT order set aside, assessee's appeal allowed.

View Source

← Previous Next →

CIT invoked revisionary jurisdiction u/s 263 alleging AO did not ...

AO's reassessment order upheld; CIT can't reexamine same material u/s 263.

Case Laws Income Tax

September 16, 2024

You may also like:

The case pertains to the revision of an assessment order u/s 263 regarding the applicability of the higher tax rate u/s 115BBE on unexplained expenditure u/s 69C. The...

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...

The crux of the matter revolves around the validity of reassessment proceedings initiated by the Assessing Officer (AO). The critical issue is whether there existed any...

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 - 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 - The Pr. CIT while passing the order u/s 263 cannot remand the matter back to the AO for passing the fresh order as it will lead to the conclusion that...

Revision u/s 263 - addition u/s 40A(3) - when the entire materials were placed before the Ld. AO during the course of assessment proceeding and only upon verification of...

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....

Revision u/s 263 by PCIT - alleged that cash deposits being not satisfactorily explained and failure of AO to bring the same to tax - ignoring the factum of inquiry by...

Revision u/s 263 - Debit balances written-off - no evidence or material on record including the order sheet of the A.O. to establish that A.O. examined the said issue at...

The assessee dealt with a penny stock, and the Assessing Officer (AO) failed to conduct proper inquiry during reassessment proceedings. The Principal Commissioner of...

Revision u/s 263 - entire materials on record were not considered by the Assessing Officer - It would have definitely be an erroneous procedure adopted by the AO - HC

The Appellate Tribunal examined the issue of invoking revisional jurisdiction u/s 263 in a case involving receipts of accommodation entries and reopening of assessment....

Revision u/s 263 by CIT - Second Pr. CIT find the order of Second AO erroneous for lack of enquiry - Scope of doctrine of merger - The Ld. Pr. CIT has made a bald...

Revision u/s 263 - Bogus LTCG/Share transaction - as per CIT AO failed to make necessary enquiries to ascertain the actual strength of the company, investment profile of...

Quick Updates: