Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (3) TMI 1300 - AT - Income TaxRevision u/s 263 - deny the claim of exemption for medical allowances, conveyance allowances and sumptuary allowances etc. - CIT had held that the allowances claimed as exemption on the basis of the recommendation of Shetty Commission Report as approved by the Hon’ble Supreme Court were not exempted under the I.T.Act and hence the assessments are to be revised - Held that:- Since the Hon’ble High Court [2016 (3) TMI 1291 - KERALA HIGH COURT] had held that acceptance of the Shetty Commission Report by the Hon’ble Apex Court is not a declaration of law and since there is no provision under the Income-tax Act or the Rules, whereby Medical, Conveyance and Sumptuary allowances are exempt from taxation, we hold that CIT is justified in invoking his revisionary jurisdiction u/s 263 of the I.T.Act. - Decided against assessee
|