Tag: cit revision 263

CIT revisional order setting aside dropping of penalty proceedings u/s 271(1)(c) by the AO was quashed by ITAT as AO took one of the possible views as per the  judgment of Apex Court ABCAUS Case Law Citation ABCAUS 2361 (2018) 06 ITAT In the all the cases covered …

CIT u/s 263 can not revise order passed by Commissioner Appeals to examine the same issue as assessment order made by Assessing Officer got merged with the order of the Appellate Commissioner. The instant appeals were filed by the Revenue challenging the orders passed by the Income Tax …

Fresh approval u/s 153D not required in remand case u/s 263 where assessment in search case was originally framed u/s 153A after approval u/s 153D of the Income Tax Act-HC The appeal was filed by the appellant assessee is against the order of Income Tax Appellate Tribunal (Tribunal/ITAT) …

ITAT explains the law on exemption u/s 10(2A) for partners share of profit in the income of the firm. Revision order u/s 263 quashed as it failed to state what kind of enquiry AO failed to make. Prelude: Section 10 of the Income Tax Act, 1961 (the Act) …

Revision order passed without confronting assessee with material in possession of CIT breached principles of natural justice. Though variance in SCN and order passed u/s 263 did not invalidate it. ABCAUS Case Law Citation: ABCAUS 2138 (2017) (12) HC The Challenge/Grievance: The assessee had challeneged the order of …

Section 80-IC deduction unavailable on fixed deposit interest–High Court. The  benefit is available only for carrying on business mentioned in sub-section (2) and profits and gains derived therefrom.   ABCAUS Case Law Citation: ABCAUS 2131 (2017) (11) HC The Challenge/Grievance: The appellant assessee was aggrieved by the judgment …

CIT can exercise powers u/s 263 despite assessee’s appeal on that or some other aspect if the same was the subject matter of AO’s order, if in his opinion, it was erroneous-High Court   ABCAUS Case Law Citation: ABCAUS 2119 (2017) (11) HC The Challenge/Grievance: The assessee was …

Question affecting tax liability of assessee can be raised before the Tribunal first time and it is obliged to consider them and pass appropriate orders – High Court ABCAUS Case Law Citation: ABCAUS 2101 (2017) (10) HC In the instant case, the Income Tax Department (Revenue/Department ) had …

Revision u/s 263 Limitation where assessment completed u/s 143(1) was reopened u/s 147. Jurisdiction u/s 263 could not be exercised after two years on issues which were not subject matter of consideration while passing the order of reassessment u/s 143(3) / 147 – ITAT   ABCAUS Case Law …

Revision order us 263 on conducting additional enquiry on different pattern when AO conducted adequate enquiry and took view permissible in law could not be said to be erroneous or prejudicial to the interest of Revenue – ITAT ABCAUS Case Law Citation:ABCAUS 1262 (2017) (05) ITAT Grievance:The appellant …