Tag: erroneous and prejudicial
CIT should make detailed enquiry at revision stage if he wants to take a different view and give finding how assessment order is erroneous and prejudicial to the interests of Revenue ABCAUS Case Law Citation:ABCAUS 3264 (2020) (02) ITAT Important case law relied upon by the parties:Malabar Industrial …
Assessment Order passed several months ahead of deadline without making inquiries/verification is without due application of mind & in avoidable haste making stronger case for revision u/s 263 ABCAUS Case Law Citation:ABCAUS 3229 (2020) (01) ITAT Important case law relied upon by the parties:Deniel Merchants Pvt. Ltd. Vs. …
Revision u/s 263 done on issues not covered under limited scrutiny quashed as AO had already verified those issues for which limited scrutiny was conducted. ABCAUS Case Law Citation:ABCAUS 3201 (2019) (12) ITAT Important case law relied upon by the parties:Malabar Industrial Co. Ltd., (2000) 243 ITR 83(SC) …
Failure of AO to apply/examine applicability of section 184(5) makes the assessment order erroneous and prejudicial to the interests of Revenue ABCAUS Case Law Citation:ABCAUS 3198 (2019) (12) ITAT Important case law relied upon by the parties:Mubarak Trading Co. v/s CIT, 174 Taxman 339Mas Properties & Developers v/s …
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 …
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 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. …
CIT Revision u/s 263 unjustified alleging wiping out income surrendered u/s 133A treating it business income and not separately u/s 69A INCOME TAX APPELLATE TRIBUNAL AMRITSAR BENCH; AMRITSAR I.T.A No. 203(Asr)/2014 Assessment Year: 2009-10 M/s Superfine Agro Industries (Appellant) vs. Income Tax Officer (Respondent) Date of Order: 10/03/2016 ORDER PER T. …
