Income Tax : The Tribunal held that CIT(A) cannot enhance income under Section 251 on matters not considered by the Assessing Officer during as...
Income Tax : The ITAT held that revisional powers under Section 263 cannot be exercised when the Assessing Officer has already examined the iss...
Income Tax : ITAT quashed PCIT’s Section 263 order, holding AO’s treatment of survey income as business income valid and not erroneous or p...
Income Tax : Ahmedabad ITAT quashes reassessments based on ACB report, ruling the AO lacked independent "reason to believe" and only used borro...
Income Tax : ITAT Pune upholds PCIT's order u/s 263, setting aside an assessment for failure to verify ₹82.64 crore in advances for property...
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 held an assessment passed after the taxpayer's death was invalid in law, quashed the order, and treated all remaining issues ...
Income Tax : ITAT deleted additions after finding the AO relied only on ACB information without independent inquiry or supporting evidence. ITA...
Income Tax : ITAT Kolkata held that a loan received by a company that was not a shareholder of the lender could not be taxed as deemed dividend...
Income Tax : The Court held that Section 263 could not be invoked where the AO had made inquiries and accepted the assessee's explanation....
Income Tax : The Court held that Section 263 could not be invoked where the AO had raised queries, examined replies and completed the assessmen...
ITAT Ahmedabad held that revisional power under section 263 of the Income Tax Act correctly invoked as AO failed to examine the issue of purchase of land in the light of provisions of section 56(2)(vii)(b) of the Income Tax Act.
Shri Keshoraipatan Sahkari Sugar Mills Ltd. Vs PCIT (ITAT Jaipur) We find that the assessment was taken up for scrutiny under CASS to examine the deduction claimed chapter VIA for limited purpose and on this issue, there is finding of the ld. AO in the assessment order. Yet, learned PCIT has subjected the assessment order […]
ITAT Mumbai held that AO took the plausible view of granting the benefit of mutuality after due application of mind. Accordingly, revisional jurisdiction u/s 263 cannot be invoked merely because PCIT may entertain a different view in the matter.
SDS Cargo Solutions Pvt Ltd Vs ITO (ITAT Chennai) PCIT had given a categorical finding that the AO has not carried out any enquiries on the issue of CFS charges paid to Continental Warehousing Corporation in light of relevant provisions of the Act which render the assessment order to be erroneous and prejudicial to the […]
Assessee continued to be granted the exemption under Section 12A of the Act. It is the case on behalf of the appellant that till 1987 there was no requirement of issuance of any certificate of registration of Section 12A and only filing an application for registration under Section 12A and processing the same by the Department was sufficient.
ITAT Mumbai held that initiation of revisional proceedings u/s 263 of the Income Tax Act unsustainable as AO has carried out enquiry on the issues, however, has failed to discuss the same in the Assessment Order.
ITAT held that when two views are legally possible and Assessing Officer adopts one view the Assessment Order cannot be said to be erroneous for CIT to invoke jurisdiction u/s. 263
Gujarat High Court held that re-opening sought on the basis of assessment record without any fresh tangible material is unsustainable in law.
ITAT Kolkata held that addition based on such retracted statement of third person and that too without giving any opportunity of cross examination to the assessee deserves to be deleted.
ITAT Jodhpur held that any issue which was considered by AO in the assessment order and such order is erroneous and prejudicial to the interest of justice, then, such order would be open for revision under section 263 of the Income Tax Act.
