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...
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.
The ruling highlights that immunity under DTDRS is general to penalty proceedings. Consequently, revising penalties merely because a different section might apply is impermissible.
ITAT Ahmedabad held that if a Section 263 revision order is quashed, any consequential assessment and appeals based on it are rendered inoperative. Key takeaway: assessments cannot stand on invalid foundations.
The issue was whether revision could be invoked despite detailed verification of unsecured loans during scrutiny. The ITAT held that once enquiries are duly conducted, section 263 cannot be used for a deeper re-probe.
The issue was whether revision under section 263 could survive when no incriminating material was found for an unabated year. The tribunal held that without search-based evidence, the completed assessment could not be disturbed.
The Tribunal upheld revision since business expenses were within limited scrutiny and education cess deduction was not verified. The key takeaway is that lack of enquiry on a covered issue makes the assessment erroneous and prejudicial to revenue.
The issue was whether the company could be asked to explain the source of shareholders funds for a pre-2013 year. The Tribunal held that the proviso to section 68 is prospective, making the addition unsustainable.
The issue was whether Section 263 could be invoked despite adequate verification by the AO. The Tribunal ruled that a plausible, evidence-based view cannot be revised merely due to a differing opinion.
The Tribunal clarified that revisionary jurisdiction presupposes a valid assessment order. Where Section 153C itself is time-barred, Section 263 has no application.
