Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2018 (6) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (6) TMI 105 - HC - Income TaxRevision u/s 263 - Doctrine of merger - Disallowance for labour charges, expenses of commission and work in progress - whether the Commissioner of Income Tax (Appeals) exercising jurisdiction u/s 263 could re-consider the claim of development expenses which had been considered by the AO? - Held that:- Appellate Commissioner has considered the matter while concurring with the order passed by the Assessing Officer, and therefore, the order of the Assessing Officer stood merged with the order of the Appellate Commissioner. In such circumstances, the same question cannot be re-opened by the Revisional Authority exercising power under Section 263 of the Act. Expenses of purchase of land and profit from sale of properties - Held that:- Appellate Authority considered both the appeals and in his order ordered for deletion of the additions made by the Assessing Officer, as a result the conclusions regarding purchase price paid for acquiring the lands and the sale proceeds received by selling the lands stood concluded as per the order of the Appellate Commissioner - no scope for the Revisional Commissioner to exercise jurisdiction under Section 263 also had no justification to add cost price in a sum of ₹ 2,71,13,658/- stating that it pertained to sales made for the subsequent year. Assessee submitted full details regarding payment of commission and also proper TDS has been deducted on the said expenses - thus it was not open for the revisional authority u/s 263 to interfere with the same only because another view was possible as followed in the case of THE COMMISSIONER OF INCOME TAX VERSUS SHRI NIRAV MODI [2016 (6) TMI 1004 - BOMBAY HIGH COURT] - Decided in favor of assessee. - Decided in favor of assessee.
|