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Income Tax Case Laws - Section: 263


Income Tax

Cases for Section: 263
Showing 1 to 15 of 1808 Records


Smt. Gurcharan Kaur Versus Commissioner of Income Tax-II

Violation of principles of natural justice - Documents and data not properly examines - Advertisement expenses u/s 37 - Whether the Tribunal misdirected itself in law as well as on facts in upholding the order passed by the CIT u/s 263 of the Act whe ......

2014 (10) TMI 470 - ITAT AHMEDABAD

M/s Zaveri & Co. Pvt. Ltd. Versus The Commissioner of Income-tax-IV, Ahmedabad.

Jurisdiction u/s 263 – SEZ Entitlement for deduction u/s 10AA or not – Held that:- The assessee is entrepreneur as referred to in clause (j) of section 2 of the SEZ Act, 2005 who began to provide services during the previous year relevant to the AY 2 ......

2014 (10) TMI 461 - ITAT DELHI

Smt. NK. Vinayak, Shri BK. Vinayak Versus Commissioner of Income Tax, Central-II, New Delhi.

Validity of order u/s 263 - Search and Seizure operation u/s 132 – Held that:- During the course of assessment proceeding questions, enquiries and explanation on the relevant issues were called for by the AO and were replied by the assessee - Thus th ......

2014 (10) TMI 327 - BOMBAY HIGH COURT

Commissioner of Income Tax-16 Versus Rajesh G. Kapadia HUF

Power of revision by Commissioner u/s 263 - Prejudicial to the interest of the Revenue or not – Held that:- The Tribunal had rightly found that after the property was developed in phases and the Assessee was partly compensated by giving the share ass ......

2014 (10) TMI 323 - ITAT HYDERABAD

M/s. VST Industries Limited Versus Addl. CIT, Range-3 Hyderabad

Revision u/s 263 – Held that:- Even though AO made an enquiry about the amount claimed in the course of assessment, the issue is not examined in its correct perspective by the AO - First of all, whether the entire amount is assessee’s liability or no ......

2014 (10) TMI 315 - ITAT LUCKNOW

Shri Krishna Kumar Goenka Versus ACIT., Range-3, Kanpur

Revision u/s 263 – Reopening of assessment u/s 147 – New issues can be introduced or not – Held that:- Income chargeable to tax, in terms of bogus gift has escaped assessment as per provisions of s.147 of the I.T. Act, 61 - Therefore action u/s 147 i ......


Sh. Raj Kumar Bhardwaj Versus Commissioner Income Tax

Jurisdiction to invoke section 263 – Date of conversion of capital asset into stock u/s 54F – Held that:- CIT has valued the jewellery as per cost index, but the fact remains that jewellery always contains some impurity - no jewellery can be made fro ......



Revision u/s 263 – Prejudicial to the interest of revenue - Benefit of exemption u/s 10(38) - Held that:- The Tribunal was rightly of the view that in the face of the materials before him, the CIT could not have formed any opinion that the assessment ......

2014 (10) TMI 207 - ITAT AHMEDABAD

M/s. Zaveri & Co. Exports, Versus CIT-V, Ahmedabad

Jurisdiction of the CIT u/s 263 – Deduction u/s 10AA - Whether the view adopted by the AO in the assessment order to the effect that such interest income forms part of profit and gains of business of SEZ unit and therefore qualifies for deduction u/s ......

2014 (10) TMI 178 - ITAT HYDERABAD

M/s. Louis Berger Group Inc. Hyderabad Versus Asst. Director of income-tax (International Taxation)

Revision u/s 263 – Bar of limitation - Income offered on expenses re-imbursed and deduction on reimbursable expenses – Held that:- The assessment originally completed under S.143(3) for the year was subsequently reopened by the AO only on the issue o ......

2014 (10) TMI 151 - ITAT KOLKATA

M/s. Bisakha Sales Pvt. Ltd. Versus CIT(Kol. -II), Kolkata

Revision u/s 263 - Reopening of assessment u/s 147 - Receipt of share application money with huge share premium – Held that:- Receipt of share application money with huge share premium warranted detailed enquiry by the AO and not a perfunctory enquir ......

2014 (9) TMI 553 - BOMBAY HIGH COURT

The Commissioner of Income Tax-2 Versus LIC Housing Finance Ltd.

Revision u/s 263 - Applicability of section 36(1)(viii) - Whether the Tribunal was correct in holding that two views are possible with regard to the applicability of Section 36(1)(viii) r.w.s. 41(4A) even though the provisions of Section 36(1)(viii) ......

2014 (9) TMI 512 - ITAT MUMBAI

M/s. Rare Enterprises Versus The Commissioner of Income Tax

Validity of revision u/s 263 – Held that:- An order cannot be termed as erroneous unless it is not in accordance with law - This section does not visualize a case of substitution of the judgment of the Commissioner for that of the Income-tax Officer, ......

2014 (9) TMI 430 - MADRAS HIGH COURT

The Lakshmi Mills Co. Ltd. Versus The Joint Commissioner of Income Tax

Validity to grant refund u/s 93 of KVSS – Correctness of depreciation - Whether the Tribunal was right in not holding that correct depreciation allowed by the AO dates back to the original Assessment – Held that:- Once an assessee voluntarily invokes ......

2014 (9) TMI 196 - ITAT BANGALORE

M/s. Sobha Developers Ltd. Versus Commissioner of Income Tax (LTU)

Proceedings u/s 263 – Deduction u/s 80IB(10) - Jurisdiction of CIT - Doctrine of merger – Held that:- Following the decision in Sobha Developers Ltd. Versus Commissioner of Income-tax (LTU) [2013 (9) TMI 638 - ITAT BANGALORE] - there was no merger o ......

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