Home Highlights March 2014 Year 2014 This

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1. Revision u/s 263 - Bogus LTCG/Share transaction - as per CIT AO failed to make necessary enquiries to ascertain the actual strength of the company, investment profile of...

2. Disciplinary enquiry by ICAI - statutory auditors of Satyam Computers Services Limited - Principles of natural justice - HC

3. Revision u/s 263 - the AO also mentioned in the order that “The Documents as submitted by the assessee were examined and placed on record”, however no remark on the...

4. Revision u/s 263 - It is evident that A.O. made enquiries on the issue and assessee complied to the enquiries and filed all the required details. Thus, it is not a case...

5. Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

6. Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

7. Revision u/s 263 - AO is only required to write decision on contentious issues placed before him and not to write decision on the issues on which sufficient enquiry was...

8. Revision u/s 263 - The words “as he deems necessary”, in our view, do not mean that the Ld. PCIT was left with a choice either to make or not to make an enquiry. As per...

9. Revision u/s 263 - As seen from the assessment order that the AO had made enquiries in respect of the cost of construction and it cannot be said that no query was raised...

10. Revision u/s 263 by CIT - if the learned PCIT was of the view that the AO failed to make the necessary enquiries which should have been made during the assessment...

11. Revision u/s 263 - lack of inquiry by AO - it is a case where the AO did not make any inquiry vis-à-vis the share premium and simply accepted the details filed by the...

12. Revision u/s 263 - as per CIT AO had wrongly allowed the assessee exemption of capital gains claimed u/s 54B - Tribunal found that neither any inquiry was made by the AO...

13. Revision u/s 263 by CIT - as per CIT AO had failed to verify applicability of the provisions of Section 56(2)(viia) - As far as the invocation of Explanation 2 to...

14. Revision u/s 263 - When the order of the AO suffers from a complete lack of enquiry, then the above said principle has no application due to the obvious reason that the...

15. Disallowance of bad debts as claimed u/s 36(1)(viia) - deduction claimed @10% of aggregate average advances - AO is directed to make relevant enquires and verifications...