Tag: cit revision 263

Revision us 263 on reasons unconnected with grounds of reopening which was for specific purpose. Calcutta High Court upholds revision by CIT

Revision us 263 on reasons unconnected with grounds of reopening which was for specific purpose. Calcutta High Court upholds revision by CIT  ABCAUS Case Law Citation: ABCAUS 1194 (2017) (04) HC The Substantial Question of Law raised: One of the grounds raised was as under: Whether the Learned …

Revision us 263-Use of word “appears” showed CIT was not sure how and in what manner the assessment order passed was without investigation-ITAT

Revision us 263-Use of word appears showed CIT was not sure as to how and in what manner the assessment order passed was without investigation and enquiry-ITAT ABCAUS Case Law Citation: ABCAUS 1121 (2017) (02) ITAT Assessment Year : 2008-09 Date/Month of Pronouncement: February, 2017 The Grievance: The …

Revisionary power us 263-Merely raising query not sufficient. Blindly accepting only part reply is incorrect assumption of facts and non-application of mind

Revisionary power  us 263-Merely raising query not sufficient.  Blindly accepting only part reply is incorrect assumption of facts and non-application of mind by AO-ITAT ABCAUS Case Law Citation: ABCAUS 1103 (2017) (01) ITAT Assessment Year : 2011-12 Important Case Laws Cited: Anuj Jayendra Shah Vs. PCIT 67 taxmann.com …

FDRs Interest was business income but not contract income. Interest on Margin Money deposits for bank guarantee is not income out of contract business

FDRs Interest was business income but not contract income. Interest on Margin Money deposits for obtaining bank guarantee is not income out of contract business-ITAT upheld CIT order u/s 263 ABCAUS Case Law Citation: 951 2016 (06) ITAT Assessment Year – 2009-10 Date/Month of Judgment/Order: June 2016 Brief Facts …