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Orissa HC quashes Sec 263 Revision based on consistency & prior allowance of depreciation
Case Law Details
- Case Name
- CIT (Exemption) Vs Dhaneswar Rath Institute of Engineering & Medical Sciences (Orissa High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All High Courts, Orissa High Court
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CIT (Exemption) Vs Dhaneswar Rath Institute of Engineering & Medical Sciences (Orissa High Court)
The Orissa High Court examined an appeal by the Commissioner of Income Tax (CIT – Exemption) against an order of the Income Tax Appellate Tribunal (ITAT). The core issue revolved around the CIT’s decision to revise an assessment order under Section 263 of the Income Tax Act, 1961. The Assessing Officer (AO) had allowed Dhaneswar Rath Institute of Engineering & Medical Sciences (the assessee) to claim depreciation on assets as an application of income for charitable purposes und...
