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 : The ITAT Amritsar held that a valuation report by itself cannot justify addition under Section 69 without evidence of extra paymen...
Income Tax : ITAT Mumbai held that amortization of BOT road project expenditure must be computed based on the actual concession period and not ...
Income Tax : The Tribunal held that the reassessment order could not be revised under Section 263 since the conditions for treating jewellery e...
Income Tax : ITAT Hyderabad held that assessment orders passed pursuant to earlier remand directions were barred by limitation under Section 15...
Income Tax : Delhi ITAT held that an Assessing Officer cannot make additions beyond the specific issues remanded by the Principal Commissioner ...
The court ruled that invoking an inapplicable statutory provision vitiates revision. Proper identification of the governing section is mandatory before exercising revisional powers.
The issue was whether cash deposited during demonetisation could be treated as unexplained. The Tribunal held that when sales are supported by available stock and recorded books, cash receipts from such sales cannot be added under Section 68.
The courts held that when depreciation on goodwill is allowed after detailed examination, the assessment cannot be revised as erroneous. The key takeaway is that a plausible and informed assessment order bars revision under Section 263.
The issue was whether revision could stand on incorrect factual assumptions. ITAT held that misreading records makes the revision invalid, reaffirming that Section 263 needs real errors.
he revision targeted 80G deduction and interest under TDS/TCS provisions. The Tribunal found that the Assessing Officer had examined both issues and no prejudice was shown.
The ITAT upheld revision under Section 263 where the Assessing Officer accepted large demonetisation cash deposits without proper verification. Failure to examine utilisation of withdrawals or call for a cash book rendered the assessment erroneous and prejudicial to revenue.
The dispute concerned the head of taxation for interest received on enhanced land compensation. The Tribunal ruled that Section 28 interest is an accretion to compensation and cannot be assessed as income from other sources.
The issue was whether revision could be invoked for allowing LTCG exemption on sale of investments. The Tribunal held that since the Assessing Officer examined the claim, the order was not erroneous or prejudicial.
The issue was whether revision under section 263 was valid for multiple expense claims. The Tribunal held that since the Assessing Officer had examined issues and adopted a plausible view, revision was unsustainable.
The court held that reopening beyond the permissible period was invalid where full disclosures were made and no new material emerged. Reassessment based solely on existing records was ruled time-barred.
