Tag: cit revision 263
Revisionary order u/s 263 passed in the name of dead person quashed. CIT was not justified in setting aside the assessment ignoring the fact that assessee had already expired ABCAUS Case Law Citation:ABCAUS 3185 (2019) (10) ITAT Important case law relied upon by the parties:CIT Vs. M. Hemanathan, …
Activity of arranging placement for ex-servicemen as security personnel/guards in different organizations was charitable u/s 2(15) of the Income Tax Act ABCAUS Case Law Citation:ABCAUS 3149 (2019) (09) ITAT Important case law relied upon by the parties:Addl. CIT v. Surat Art Silk Cloth Mfrs. Association 121 ITR 1 …
Principles of law and legal position regarding exercise of revisionary powers u/s 263. ITAT explains the twin conditions as laid down by Supreme Court/ High Courts ABCAUS Case Law Citation:ABCAUS 3141 (2019) (09) ITAT Important case law relied upon by the parties:Malabar Industrial Co. Ltd. vs. CIT, 243 …
Exercise of power by CIT u/s 263 is barred when appeal u/s 250 is pending. “record” means what is available at the time of examination by CIT ABCAUS Case Law Citation:ABCAUS 3131 (2019) (08) HC Important case law relied upon by the parties:Malabar Industrial Co. Ltd. vs. Commissioner …
Revision 263 merely for difference in income as per P&L Account & TDS statement quashed as assessment order was not erroneous & prejudicial to Revenue ABCAUS Case Law Citation:ABCAUS 3127 (2019) (08) ITAT Important case law relied upon by the parties:Malabar Industrial Co. Ltd-vs-CIT (2000) 243 ITR 83 …
Revision u/s 263 merely on ground of non-discussion / non-mentioning of reply to queries in assessment proceeding/order is invalid ABCAUS Case Law Citation:ABCAUS 3123 (2019) (08) HC Important case law relied upon by the parties:Malabar Industrial Company vs. CIT (2000) 109 taxman 66 (SC)CIT vs. Krishan Capbox Ltd. …
Lack of significant discussion of every argument by ITAT does not constitute a substantial question of law – High Court upheld revision u/s 263 ABCAUS Case Law Citation:ABCAUS 3092 (2019) (07) HC The assessee had appealed under Section 260A of the Income Tax Act, 1961 (the Act) alleging …
Revision u/s 263 upheld as AO failed to initiate penalty proceedings u/s 271(1)(c) where assessee increased income in revised return filed u/s 148 ABCAUS Case Law Citation:ABCAUS 3091 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:CIT v. Bhikaji Dadabhai and Co. 42 ITR 123ACIT vs. …
Notice u/s 263 issued by AO was held valid when notice itself stated that PCIT directed its issuance and AO signed it merely in his ministerial capacity ABCAUS Case Law Citation:ABCAUS 3081 (2019) (07) HC Important Case Laws Cited/relied upon by the parties:CIT Vs. Amitabh Bachchan, (2016) 384 …
CIT cannot direct AO u/s 263 to decide whether the findings recorded are erroneous without his own clear finding that the order is erroneous and how that is so. ABCAUS Case Law Citation:ABCAUS 3066 (2019) (07) ITAT Important Case Laws Cited/relied upon by the parties:Contimeters Electrical Pvt. Ltd. …