Day: August 26, 2024

Section 263 do not give unfettered power to PCIT to revise each and every order – ITAT In a recent judgment, ITAT Delhi has held that section 263 of the act does not give unfettered power to PCIT to revise each and every order to re-examine the issues …

When assessee himself declared income as business or profession AO could not be directed to consider claim u/s 54/54F of the Act  In a recent judgment, ITAT Chennai held that when assessee himself declared income under the head “business or profession” and no capital gain was declared, no …