Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (11) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (11) TMI 115 - AT - Income TaxRevision of Order u/s 263 – Held that:- Following CIT v. Max India Ltd. [2007 (11) TMI 12 - Supreme Court of India] - The order of the Assessing Officer allowing the claim of the assessee was based on a plausible view and the said view is not open for review by the Commissioner of Income-tax by way of invoking the jurisdiction under section 263 of the Act - Decided in favour of the assesse. Keyman Insurance Premium paid on lives of Partner - Held that:- Following CIT v. B. N. Exports [2010 (3) TMI 186 - BOMBAY HIGH COURT] - The assessee has no control over the way an assessment order is drafted and since, generally, the issues which are accepted by the Assessing Officer do not find mention in the assessment order and only those points are taken note of on which the assessee's explanations are rejected and additions/disallowances are made - No merit in exercise of jurisdiction by the Commissioner of Income-tax under section 263.
|