Revisionary power us 263-Merely raising query not sufficient. Blindly accepting only part reply is incorrect assumption of facts and non-application…
CIT-A can decide appeal against CIT revision order us 263 when no direction given to make assessment in a particular…
Section 68 is about satisfaction of AO not CIT us 263 to sit on the judgment of Assessing Officer. Revision…
FDRs Interest was business income but not contract income. Interest on Margin Money deposits for obtaining bank guarantee is not…
Income cannot be estimated without rejection of books of account. ITAT quashed revision order passed u/s 263 enhancing net profit…
When the assessee claimed exemption on the principle of mutuality in the return of income and the AO also made…
In a recent judgment, ITAT Delhi has interpreted the objective and scope of invoking revisionary powers of Commissioner of Income…
In a recent judgment, ITAT held that the word ‘erroneous’ in section 263 includes the failure to make an inquiry when…
Allowability of interest as cost of acquisition of capital asset u/s 48(ii) is highly debatable, not open for revision u/s…
CIT Revision u/s 263 unjustified alleging wiping out income surrendered u/s 133A treating it business income and not separately u/s…