Income Tax : Explore the necessity of issuing notices under Section 263 post the Faceless Assessment Scheme introduction. Analyze the schemes e...
Income Tax : Explore remedies for taxpayers under the Income Tax Act, 1961, comparing appeals & revisions. Understand procedures, limitations &...
Income Tax : Explore Sections 207 to 219 of the Income Tax Act, 1961, covering Advance Tax provisions, due dates, and in-depth analysis. Unders...
Income Tax : Explore the intricacies of Section 263 of the Income Tax Act, 1961. Learn how it rectifies erroneous orders and safeguards revenue...
Income Tax : Whether payment to shareholders out of sale proceeds of a property belonging to the company, to end dispute amongst the shareholde...
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 Kolkata held that CIT has not applied his mind analytically while assuming jurisdiction for taking cognizance under section 2...
Income Tax : Punjab & Haryana HC upholds Principal Commissioner’s revision under Section 263. Assessing Officer’s wrong Section 44ADA asses...
Income Tax : ITAT Ahmedabad held that passing of revisionary order by PCIT u/s. 263 of the Income Tax Act without giving proper and adequate op...
Income Tax : Patna High Court held that for migrating PAN to new AO, due to change in address, a written request to existing AO must be made. S...
Income Tax : ITAT Ahmedabad held that order of PCIT invoking section 263 of the Income Tax Act set aside as conditions necessary for invoking S...
ITAT Jaipur held that the assessment order passed by AO after considering the information filed during assessment proceedings cannot be said to be erroneous and prejudicial to the interest of the revenue. Every loss of revenue as a consequence of an order of the AO cannot be treated as prejudicial to the interests of the Revenue.
ITAT Delhi held that invocation of revisionary power u/s 263 of the Income Tax Act without satisfying two conditions i.e. order was erroneous and it was prejudicial to the interest of revenue is unsustainable in law and liable to be quashed.
ITAT Mumbai held that provisions of section 13(2)(a) of the Income Tax Act does not authorise the Revenue to compute the notional interest. Accordingly, addition of notional interest deleted.
ITAT Raipur held that additional depreciation under section 32 of the Income Tax Act on heavy vehicle not admissible when vehicles are used in own business and not on hire.
Explore PCIT vs H.T.L Ltd case – invoking Section 263. Learn about the two crucial conditions, erroneous orders, and revenue impact, in this Delhi High Court judgment
ITAT Pune held that as the case was selected for limited scrutiny and the same was not converted into complete scrutiny, the scope of verification of AO cannot be extended to other issues/matter. Accordingly, appeal allowed.
Explore Gujarat High Court’s judgment on PCIT Vs Swatiben Biharilal Parekh case, examining VSV Scheme and Section 263 of Income Tax Act.
Explore the intricacies of Section 263 of the Income Tax Act, 1961. Learn how it rectifies erroneous orders and safeguards revenue interests. Recent case laws discussed.
ITAT Jaipur held that interest paid on TDS is compensatory in nature and is a business expenditure allowable u/s 37(1) of the Income Tax Act
In a recent case, ITAT Delhi ruled that having a difference of opinion alone is insufficient to invoke Section 263 of the Income Tax Act.
