Revision u/s 263 - AO himself initiated proceedings u/s.154 to ...

Case Laws Income Tax

October 17, 2020

Revision u/s 263 - AO himself initiated proceedings u/s.154 to rectify error apparent on record on the aspect of computation of LTCG goes to show that he had while completing the Assessment not made proper enquiries. The law is well settled that if there is a failure on the part of AO to make an enquiry on the issue which calls for an enquiry, that by itself will render the order of assessment erroneous and prejudicial to the interests of the revenue. - AT

View Source

← Previous Next →

Revision u/s 263 - AO himself initiated proceedings u/s.154 to ...

Case Laws Income Tax

October 17, 2020

You may also like:

Revision u/s 263 - debatable issue - taxability of interest received by the Assessee on the enhanced compensation u/s 28 of the Land Acquisition Act - The Appellate...

Revision u/s 263 - PCIT partially looking into the assessment records and initiated the Revision proceedings on the ground that the assessee failed to submit evidences...

Rectification u/s 154 - additional depreciation @20% claimed as per provision of Sec. 32(1)(iia) - it is on record of the AO that the issue is debatable and the issue...

Disallowance u/s 14A r.w.r. 8D in rectification proceedings u/s 154 - Mandation of recording satisfaction - Recording of satisfaction by the Assessing Officer under Rule...

Revision u/s 263 - penalty proceedings u/s 271AAB(1A) - The mandate under section 263 of the Act do not give any power to CIT to impose his satisfaction over the...

Rectification u/s 154 - commercial building or residential building - AO has brought on record that the entire building was a commercial building - based on this finding...

Rectification of mistake u/s 154 - tax paid on more than one occasion, and claims its refund u/s 154 - The High Court referred to Article 265 of the Constitution of...

Revision u/s 263 - AO did not initiate penalty proceedings u/s. 271(1) (c) - No hesitation in holding that the CIT is not correct in assuming jurisdiction u/s 263 of the...

Rectification u/s 154 - under-assessment of income qua the foregoing depreciation/additional depreciation issue(s) - The Tribunal considered the Revenue’s contentions...

Revision u/s 263 - at the time of exercise of jurisdiction under Section 263, admittedly, proceedings before AAR was pending on the issue of taxability of receipts from...

Rectification u/s 154 - addition u/s 69 r.w.s. 115BBE - disallowing 30% of the expenditure pertaining to salary, rent, contract and professional fee as per Section 40...

Scope of rectification of mistake - The case revolved around the disallowance of EPF and ESI contributions by the Assessing Officer u/s 154 of the Income-tax Act, 1961....

Rectification of mistake u/s 154 - limited scrutiny of “Agricultural Income” - The High Court deliberated on the challenge to an Impugned Notice issued u/s 154 - It...

Interpretation of statute - Power of refund authority to rectify error committed by the importer - Section 154 of the Customs Act, 1962 - clerical error or arithmetical...

Validity of revision proceedings u/s 263 - Adoption of either of view by AO - allowability under section 36(1)(viia) - The court concludes that the original assessment...

Quick Updates: