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 ...
ITAT Jaipur held that addition towards unaccounted commission based on seized digital sheet without corroborative evidence is not sustainable. Accordingly, addition is deleted and said ground raised by assessee is allowed.
The Tribunal ruled that once an assessment under Section 153A is approved under Section 153D, it cannot be revised under Section 263. This reinforces limits on PCIT’s revisional powers.
The Tribunal held that investment in agricultural land in a spouse’s name qualifies for deduction under Section 54B, following Rajasthan High Court precedent.
The Supreme Court held that revision under Section 263 requires both error and prejudice to revenue. In this case, depreciation claimed by a loss-making entity was tax-neutral, so revision was invalid.
ITAT Delhi dismissed the appeal challenging PCIT’s exercise of jurisdiction under Section 263, holding that the Commissioner can revise orders even when the matter is pending before CIT(A). Key takeaway: jurisdiction under Sec. 263 extends to unresolved appeals.
ITAT Mumbai held that revisionary proceeding under section 263 of the Income Tax Act is liable to be quashed since AO took one of the possible views while allowing claim of deduction under section 54F. Accordingly, order is quashed and appeal is allowed.
ITAT Mumbai held that the Assessing Officer made detailed enquiries before allowing ESOP expenditure, invalidating the PCIT’s revision under section 263.
ITAT quashed PCIT’s Section 263 order, holding AO’s treatment of survey income as business income valid and not erroneous or prejudicial to revenue.
The Kerala High Court held that revisional powers under Section 263 cannot be invoked when the Assessing Officer has examined and accepted a deduction claim under Section 32AC after due inquiry.
ITAT Mumbai held that National Payments Corporation of India carries out activities which has been recognized as charitable under category of advancement of object for general public utility. Accordingly, revisionary order u/s. 263 quashed as issue already dealt in detail by AO.
