Tag: cit revision 263
Revision u/s 263 ordered for dropping penalty proceedings u/s 271(1)(c) set aside as AO took a view by adopting a plausible view ABCAUS Case Law Citation: ABCAUS 3028 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: MAK Data Pvt. ltd. Vs. CIT (2013) 358 ITR …
Revision u/s 263 quashed as AO in view the legal position made a conscious decision holding that section 2(22)(e) was not applicable to the case. ABCAUS Case Law Citation: ABCAUS 2987 (2019) (06) ITAT Important Case Laws Cited/relied upon by the parties: Pradip Kumar Malhotra v CIT (2011) …
Inadequate enquiry leading to assumption of incorrect facts makes the order erroneous and prejudicial to the interests of the revenue – ITAT upheld the Revision order passed u/s 263 ABCAUS Case Law Citation: ABCAUS 2934 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Gee Vee …
Limited scrutiny order passed by AO was not erroneous or prejudicial to the interest of Revenue as enquiries were focused and limited – ITAT ABCAUS Case Law Citation: ABCAUS 2902 (2019) (05) ITAT Important Case Laws Cited/relied upon by the parties Malabar Industrial Co Ltd Vs. CIT’ (2008) …
Difference in Tribunal and non jurisdictional High Court amounts to two opposite views despite that decision of High Court rendered after ITAT ABCAUS Case Law Citation: ABCAUS 2884 (2019) (04) ITAT Important Case Laws Cited/relied upon by the parties Gouli Mahadevappa vs. ITO Â 356 ITR 90 (Karn) Prakash …
Revisional order u/s 263 quashed following rule of consistency, Revenue argued that the principle of res judicata has no application in tax law ABCAUS Case Law Citation: ABCAUS 2881 (2019) (04) HC Important Case Laws Cited/relied upon by the parties Income Tax Officer v. DG Housing Projects Limited …
No Penalty u/s 271(1)(c) can be imposed by CIT without recording satisfaction in revision order 263. Â Provision of Section 271(1B) not applicable as CIT is not AO u/s 2(7) of Income Tax Act, 1961. ABCAUS Case Law Citation: ABCAUS 2732 (2019) (01) ITAT Important Case Laws Cited/relied upon: …
When ITAT inspected documents furnished in response to show-cause notice u/s 263 and found transactions not bogus, no interference was called. Supreme Court dismissed SLP of the Revenue ABCAUS Case Law Citation: ABCAUS 2729 (2019) (01) SC Important Case Laws Cited/relied upon: The Revenue had filed an Income …
CIT is empowered to invoke revisionry powers u/s 263 to direct AO to initiate penalty proceedings u/s 271(1)(c) – ITAT ABCAUS Case Law Citation:ABCAUS 2687 (2018) (12) ITAT Important Case Laws Cited/relied upon:CIT Vs. Ashok ConstructionsCIT Vs. Surendra Prasad AgarwalV. Ramanamurthy RajuStar Diamond Tools Vs. ITOCIT Vs. Paramanand …
AO exceeded jurisdiction in dropping penalty on issues pending in quantum appeal-ITAT upholds exercise of revisional powers by CIT u/s 263 ABCAUS Case Law Citation: ABCAUS 2666 (2018) (12) ITAT The appellant assessee had contested the invocation of revisional jurisdiction u/s 263 of the Income Tax Act, 1961 …
