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Income Tax Case Laws - Section: 263

Cases for Section: 263
Showing 1 to 15 of 2025 Records

2015 (7) TMI 72 - ITAT HYDERABAD

Mr. Kailash Chand Gupta Hyderabad Versus Commissioner of Income Tax (Central) Hyderabad

Revision u/s 263 - order has been passed by the Ld. CIT under section 263 without considering the explanation offered by the assessee - Registration of Development Agreement - Explanation w.r.t Exemption u/s 54F - Held that - On the basis of this exp.....

2015 (6) TMI 718 - ITAT DELHI

Ambience Hotel & Resort Pvt. Ltd. and others Versus Commissioner of Income-tax

Revision u/s 263 - CIT directing the A.O. to examine the issue that the lease rental incomes from shops/retail space owned by Ambience Hotels & Resorts Ltd. should not be assessed in the assessee s hands but in the hands of Ambience Hotels & .....

2015 (6) TMI 646 - ITAT BANGALORE

Wonderla Holidays Limited (Fomerly Veega Holidays & Parks P. Ltd) Versus Commissioner of Income-tax Officer, Bangalore - III, Bangalore

Revision u/s 263 - interest expenditure claimed on a loan raised from State Bank of India was not allowable since the loan was intended for starting a new amusement park at Mumbai and assessee had dropped the plan - Held that - In so far as the first.....

2015 (6) TMI 634 - ITAT AHMEDABAD

Shree Yogi Steels Pvt. Ltd Versus DCIT, (OSD) Circle-8, Ahmedabad

Revision u/s 263 - CIT(A) directed AO to recompute the short term capital gain after ascertaining the correct cost of acquisition of the wind mill and correct amount of depreciation - Due to huge business losses, the depreciation u/s. 32(1) was not c.....

2015 (6) TMI 675 - ITAT KOLKATA

Lok Nath Pd. Gupta Versus Deputy Commissioner of Income Tax Central Circle-XXV, Kolkata

Revision u/s 263 - claim for expenditure towards payment of Excise Duty has been allowed by AO despite not being disclosed in the regular books of accounts - Held that - The only view possible in view of the specific provisions of section 43B(a) is t.....

2015 (6) TMI 607 - ITAT KOLKATA

Infinity Infotech Parks Limited Versus Deputy Commissioner of Income Tax

Revision u/s 263 - Doctrine of merger - development agreement entered into by the assessee with Godrej Waterside Properties Pvt. Ltd., the capital gain has arisen to the assessee during the impugned assessment year in the opinion of the CIT, assessin.....

2015 (6) TMI 365 - ITAT JAIPUR

Smt. Nirmala Devi Chordia Versus The CIT, Jaipur-1

Validity of revision u/s 263 - the assessment order passed by the AO u/s 147/148 set aside by ld. CIT holding it to be erroneous and prejudicial to the interest of Revenue - Held that - The record that the assessee had already filed the return of inc.....

2015 (6) TMI 398 - KERALA HIGH COURT

GTN Industries Ltd (Formerly GTN Textiles Ltd) Versus The Deputy Commissioner of Income Tax

Revision u/s 263 - Held that - Reading of the impugned order itself show that the Commissioner has passed the order on the issues specified finding that there was no application of mind by the Assessing Officer. In such circumstances, following judgm.....

2015 (7) TMI 44 - ITAT KOLKATA

Dhanraj Bagaria and others Versus Commissioner of Income Tax, Kolkata-XV, Kolkata,

Revision u/s 263 - proceeding under section 263 has been invoked against the order passed by the Assessing Officer under sect ion 147 read with sect ion 143(3) - Held that - A perusal of the order of the CIT indicates that the assessment order passed.....


The Commissioner of Income Tax-II, Amritsar Versus M/s. Vijay Bharat Cigarette Store, Pathankot

Revision u/s 263 - payment of interest was in accordance with the provisions of Section 40(b)(iv) - Held that - In view of the fact that the order dated 02.01.2012 has attained finality, it would in any event not be possible to proceed any further in.....

2015 (6) TMI 490 - ITAT HYDERABAD

M/s. Namitha Constructions, Hyderabad Versus Commissioner of Income-Tax, Vijayawada

Revision u/s 263 - CIT has considered the assessment order to be erroneous and prejudicial to the interests of revenue appears to be the rate of profit adopted by AO, which according to ld. CIT, should have been 12.5 on main contract and 8 on sub-con.....

2015 (6) TMI 447 - ITAT HYDERABAD

DCIT, Circle-1 (3) , Hyderabad Versus Bhagyanagar India Ltd.

Rectification order passed under section 154 - Excess depreciation allowed on electrical installation at 15 ., Excess depreciation allowed on office equipment at 15 ,Payment of contributions of P.F./ESI beyond the due date remain to be disallowed and.....

2015 (5) TMI 818 - ITAT AHMEDABAD

Rentex Weavers Ltd, Previously known as Kalpesh Investment Ltd. Versus Commissioner of Income-tax, Ahmedabad-III

Revision u/s 263 - directing AO to treat income from sale of shares as business income instead of income from short term capital gains - Held that - Perusal of the questionnaire as well as reply given by the assessee exhibits that Assessing Officer h.....

2015 (5) TMI 813 - ITAT CHENNAI

M/s. General Machinery Spares Corporation Versus Income Tax Officer, Ward- III (4) , Chennai

Revision u/s 263 - examination of sale of property and genuineness of long term capital gains - Held that - The details called for by the Assessing Officer were furnished by the assessee and such details were accepted by the Assessing Officer and in .....

2015 (5) TMI 848 - ITAT KOLKATA

Garden Reach Shipbuilders & Engineers Ltd. Versus Commissioner of Income-tax, Kol-1, Kolkata

Revision u/s 263 - AO has omitted to disallow unpaid excise duty resulting in under assessment of tax - Held that - The assessee explained before the CIT that there is no fresh provision made in respect of unpaid excise duty of ₹ 35.43 lacs. Ev.....

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