Home Highlights February 2013 Year 2013 This

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1. Revision u/s 264 - application for revision was rejected because it was not accompanied by the requisite fee of Rs.500/- An opportunity should be given to cure the same - HC

2. Revision of other orders u/s 264 - petitioners sought to expressly withdraw the revision petition filed u/s 264 - application was pending for decision - Thus by not...

3. Maintainability of wrt petition before HC where option for filing Revision u/s 264 is available - Rejection of Refund of excess amount paid as tax - There are no...

4. Revision Petition filed u/s 264 of the order passed by AO u/s 270AA(4) - The provision does not provide for any bar or prohibition against the assessee challenging an...

5. Revision u/s 264 in favor of assessee - CIT rejected the application - Petitioner has not filed the revised returns u/s 139(5) of the Act but he has admitted to an...

6. Revision u/s 264 - seeking direction to re-consider the claim of the petitioner for deduction u/s 80-IA - there is no limitation on the power of the Pr. CCIT, CCIT, CIT...

7. Revision u/s 264 - Claiming benefit of DTAA - refund of Dividend Distribution Tax (DDT) which was paid wrongly - This was not a case where a deduction was made u/s 195...

8. Refund claim - Once an application of refund has been filed before the refund sanctioning authority, the said authority is duty bound to decide the refund application...

9. Revision u/s 264 - computation of income from capital gains - Although, there is a detailed discussion with regard to the nature of the transaction, as to whether it is...

10. Reasonable cause for the delay in filing the revision application before the CIT under Section 264 - HC

11. Addition u/s 68 - The Tribunal not only took note of the legal position but also the factual position. The Tribunal held that the legal effect after amalgamation of the...

12. Refund of accumulated input tax credit - relevant date for the purpose of considering the limitation u/s 54 - The High Court addressed this issue by directing the...

13. Amalagamtion - Liability of the amalgamating and amalgamated company - Tribunal was not right in holding that the proceedings against the amalgamated company could not...

14. Validity of reopening of assessment - notice against non existent entity / amalgamated company - Notices issued.

15. Amalgamated company is entitled to set off and carry forward the brought forward business losses and unabsorbed depreciation of the amalgamating company from the very...