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Income Tax Case Laws - Section: 263

 

Income Tax

Cases for Section: 263

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Showing 1 to 15 of 1906 Records
 

2015 (2) TMI 950 - BOMBAY HIGH COURT

Commissioner of Income Tax-2 Versus State Bank of India, Financial Reporting, Compliance And Taxation Department

Deduction u/s. 36(1)(viii) - revision u/s 263 - ITAT allowing deduction following the decision in the case of Union Bank of India v/s. ACIT [2012 (6) TMI 500 - ITAT MUMBAI] - whether financial corporation are separate and distinct entities different ......

2015 (2) TMI 938 - ITAT LUCKNOW

M/s Pacific Leather Finishers Versus Dy. CIT-3Kanpur

Revision u/s 263 - AO has failed to disallow/make addition on account of commission to foreign agents - Held that:- Detailed explanation furnished by the assessee was examined by the Assessing Officer before accepting the claim of the assessee. Moreo ......

2015 (2) TMI 934 - ITAT AHMEDABAD

Deputy Commissioner of Income Tax, Circle-5, Ahmedabad Versus Smt. Nita Madhu Patel

Share transaction - long term capital gain v/s business income - revision u/s 263 - Held that:- The intention of holding shares for a long period as investment does not amount to business income. The CIT has also dropped the proceedings initiated u/s ......

2015 (2) TMI 773 - ALLAHABAD HIGH COURT

Commissioner Of Income Tax (Central) Kanpur Versus Shri Santosh Kumar Gupta, Satna

Revision u/s 263 - assessee has filed the return for the assessment year under consideration, at Satna (MP), while jurisdictional order was lying with the Central Circle, Allahabad. - Held that:- In the earlier years, the returns were filed at Allaha ......

2015 (2) TMI 732 - BOMBAY HIGH COURT

Commissioner of Income Tax-8 Versus M/s. Fine Jewellery (India) Ltd.

Revision u/s 263 - AO erred in allowing the expenditure incurred as miscellaneous expenses for creation of brand "Nirvana" as revenue expenditure - tribunal quashed revision order u/s 263 - Held that:- Tribunal does record the fact that specific quer ......

2015 (2) TMI 724 - RAJASTHAN HIGH COURT

Commissioner of Income Tax, Kota Versus Shri Kailash Chand Methi

Revision u/s 263 - AO who passed the order on September 30, 2008, had no jurisdiction to complete the assessment as the return of income for the assessment year 2007-08 was over rupees five lakhs - Held that:- The Commissioner, in the present order u ......

2015 (2) TMI 715 - KARNATAKA HIGH COURT

THE COMMISSIONER OF INCOME TAX, MYSORE Versus T. KAVERI THIMMAIAH, T. ASHA MACHIAH AND T. NINA DEVAIAH

Revision u/s 263 - computation of capital gains arising on transfer of a capital asset acquired succession - benefit of indexation from April 1, 1981 as per AO or from April 23, 2000 as per CIT(A) - assessees are the legal heirs of one Mr. C. B. Deva ......

2015 (2) TMI 712 - KARNATAKA HIGH COURT

COMMISSIONER OF INCOME-TAX AND ANOTHER Versus SRI BILURU GURUBASAVA PATTINA SAHAKARI SANGHA NIYAMITHA BAGALKOT

Revision u/s 263 - order of assessment be set aside in view of section 80P(4) - whether the revisional authority was justified in invoking his power under section 263 of the Act without the foundational fact of the assessee being a co-operative bank ......

2015 (2) TMI 630 - ITAT CHANDIGARH

M/s Venus Woollen Mills Versus The CIT-III, Ludhiana

Revision u/s 263 - assessee has not declared proper income because despite a surrender of ₹ 2.15 crores the income returned was only ₹ 1,35,52,050 - fall in GP rate - Held that:- As during the survey, inventory was found to be excessive ......

2015 (2) TMI 578 - ITAT DELHI

Shree Balaji Packaging Versus Commissioner of Income Tax –X, New Delhi

Revision u/s 263 - examining the correctness of the assessee’s claim of deduction u/s 80IC - Held that:- Distinction must be kept in mind by the CIT while exercising jurisdiction u/s 263 of the Act between the cases of no inquiry and the cases of lac ......

2015 (2) TMI 570 - ITAT HYDERABAD

M/s. Green Fire Agri Commodities Ltd. (formerly Northgate Technologies Ltd.) Versus The Dy. Commissioner of Income-tax, Circle -2(3), Hyderabad

Revision u/s. 263 - setting aside the deduction u/s 10A as the assessee company did not produce the permission from the competent authority i.e., RBI for bringing the foreign exchange into India beyond 6 months from the date of export but within 12 m ......

2015 (2) TMI 538 - ITAT PUNE

BMC Software India Pvt. Ltd. Versus Dy. Commissioner of Income Tax, Pune

Revision u/s 263 - non-invoking of section 40(a)(ia) by the Assessing Officer - Held that:- It is a well-settled proposition that a Commissioner is denuded from exercising his revisionary power u/s 263 of the Act unless he is able to establish that t ......

2015 (2) TMI 445 - ITAT LUCKNOW

Awadh Public School Academy Versus Income Tax Officer

Voluntary donations included in income of the assessee - registration under section 12A of the Act was not available with the assessee for the impugned assessment year. - Held that:- Benefit of exemption under section 11 of the Act cannot be given to ......

2015 (2) TMI 411 - DELHI HIGH COURT

COMMISSIONER OF INCOME TAX-XII Versus M/s. GARG CHEAP CUT PIECE HOUSE

Revision u/s 263 - surrendered amount had not been disclosed over and above normal income and the surrendered stock was not accounted for properly, in addition to other existing discrepancies - ITAT quashed the order of Commissioner passed u/s 263 - ......

2015 (2) TMI 368 - DELHI HIGH COURT

COMMISSIONER OF INCOME TAX-IV Versus HERO HONDA MOTORS LIMITED

Know how payment - revenue expense v/s partly or wholly capital expense - Power of the Commissioner under Section 263 - Held that:- The respondent assessee during the course of hearing had drawn our attention that the question whether model fee paid ......

 
   
 
 
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