Validity of revisionary jurisdiction u/s.263 - the conveyance ...

Income Tax

November 1, 2021

Validity of revisionary jurisdiction u/s.263 - the conveyance deed was executed only after the Order of the Charity Commissioner ; that the assessee trust was never in possession, that the possession of the Purchaser in respect of certain portions was in their capacity as lessees. In the present case, the agreement i.e the Consent Terms is not registered and hence the doctrine of part performance cannot be applied and consequently section 2(47)(v) of the Act cannot be made applicable. - AO having taken a possible view - Revision jurisdiction u/s.263 of the Act invoked by the ld. PCIT, is devoid of merit and against the provisions of the Act - AT

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Validity of revisionary jurisdiction u/s.263 - the conveyance ...

Income Tax

November 1, 2021

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