Income Tax : Kerala HC rules no separate challenge needed for Sec 263 remand order before appealing revised assessment; restores Malabar Instit...
Income Tax : Understanding the exclusion of time limits during Court stays in assessment proceedings under Finance Bill 2025 for Income Tax ass...
Income Tax : Explore Section 263 of ITA, 1961, and its implications for revising assessment orders with no discussion on certain issues. Judici...
Income Tax : Explore landmark judgments on capital gain tax exemptions under Sections 54 and 54F of the Income Tax Act. Key highlights from ITA...
Income Tax : Understand the differences between appellate powers u/s 251, revisional powers u/s 263, and 264 of the Income Tax Act, and how the...
Income Tax : National Chamber of Industries & Commerce, U.P has made a representation against Indiscriminate notices by the Income Tax Depa...
Income Tax : KSCAA has made a Representation on Challenges in Income Tax Related to Rectification Proceedings, Order Giving Effect, Delay in P...
Income Tax : One of the key sources of dispute is the existing arrangement for follow up on audit objections by Internal Audit Party and the Re...
Income Tax : ITAT Ahmedabad held that revisionary proceedings under section 263 of the Income Tax Act not invocable as assessment made by AO af...
Income Tax : ITAT Raipur that where the income of the assessee has been computed by applying a gross profit rate, there is no need to look into...
Income Tax : Bombay HC confirms ITAT decision setting aside PCIT's Section 263 revision, holding AO took a valid view on interest disallowance ...
Income Tax : ITAT Pune quashes revision order against Angre Port Pvt. Ltd. on legal expense claims, ruling AO had conducted due inquiry and ado...
Income Tax : ITAT Ahmedabad rejects PCIT’s revision under Section 263, holding AO had duly verified cash deposits and creditors during demone...
ITAT Ahmedabad narrows PCIT’s directions under Section 263 in Vimal Agarwal’s tax case for AY 2014-15, limiting inquiry to commission on ₹92 lakh entry.
Bombay High Court held that assessment order passed after expiry of period of limitation as prescribed under section 153 of the Income Tax Act read with first proviso below explanation 1 is barred by limitation. Accordingly, petition succeeds.
ITAT Surat held that it is mandatory to provide proper opportunity of being heard to the assessee before finalization of revisionary proceedings under section 263 of the Income Tax Act.
ITAT Ahmedabad held that disallowance of exemption under section 10(23C)(iiiab) of the Income Tax Act by PCIT in absence of any supporting documents/ materials justifiable. Accordingly, appeal dismissed.
It was argued on behalf of assessee that PCIT is wrong in concluding that return filed u/s 44AD did not envisage the maintenance of any Books of Accounts. Section 68 can be invoked only if there is any entry in the Books of Accounts.
ITAT quashes S.263 revision order and annuls CIT(A) order in Kolet Resort Club Pvt Ltd case due to invalid assessment for AY 2015-16.
ITAT Kolkata remands unexplained income case involving a mother-son transaction back to CIT(A) for fresh adjudication, citing incomplete compliance and evidentiary gaps.
ITAT Ahmedabad rules that cost of improvement to make a house livable qualifies for capital gains deduction. Penalty on disallowed expenses also canceled.
ITAT Delhi held that revisionary proceedings under section 263 of the Income Tax Act would not survive since the assessment order is held to be non-est. Thus, appeal dismissed as having become infructuous.
Explore Section 263 of ITA, 1961, and its implications for revising assessment orders with no discussion on certain issues. Judicial precedents explained.
