Home Highlights February 2015 Year 2015 This

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1. Revision u/s 263 by CIT - addition u/s 40A ignored by AO - expenses have been incurred in cash exceeding Rs. 20,000/- per day - AO is expected to examine the provisions...

2. Appraisal report available but AO ignored, a fit case for revision u/s 263 - HC

3. 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...

4. Revision u/s 263 - Issue considered and decided in appeal by appellate authorities, such matters cannot be subject to revision u/s 263. Rationale behind exclusion of...

5. Revision u/s 263 - the issue was duly considered by Ld. AO after considering assessee’s detailed submissions. The view could not be said to be unsustainable view and it...

6. Revision u/s 263 - as per CIT-A interest on SBI constitute other income which was not properly verified by the AO - The present revision is on difference of opinion...

7. 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...

8. Revision u/s 263 - unexplained cash deposit during the demonization period - The tribunal noted that the AO had conducted an adequate inquiry into the assessee's cash...

9. Revision u/s 263 - The ITAT held that the AO had conducted adequate inquiries into the sales promotion expenses, as evidenced by the issuance of specific queries to the...

10. Revision u/s 263 - It is manifest from the record and particularly from the assessment order and order sheet entries that the AO has not taken up this issue of...

11. Revision u/s 263 - There is no quarrel on the point that if the AO has raised the query on this issue of applicability of provision of section 115BBE which was replied...

12. Revision u/s 263 - The fact that the vouchers were not found in the premises of the appellant trust at the time of survey proceedings, should have triggered the AO to...

13. Revision u/s 263 - lack of verification and application of mind by AO - AO could not download the unit-wise balance sheets due to technical error - A mere observation...

14. Revision u/s 263 - Applicability of provisions of 56(2)(vii)(b) - Documentary evidence available in the records which the AO admits to have verified the veracity thereof...

15. Revision u/s 263 - once the AO cannot examine any other issue except the issue as selected for limited scrutiny assessment, the PCIT can examine the only issue which was...