Home Highlights July 2013 Year 2013 This

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1. Penalty u/s 271(1)(c) - non-compliance of notice issues - if the quantum proceedings itself are declared to be bad in law and quashed , then any non compliance on the...

2. Revision u/s 263 by CIT - there is a huge difference in invoice value and the duty paid as per the Annexure-15 and the ITS data available -reconciliation should have...

3. Revision u/s 263 - the ld PCIT had invoked revision jurisdiction u/s 263 of the Act on the very same point of allowability of LTCL. Hence it could be safely concluded...

4. Revision u/s 263 - Assessment u/s 153C - revision of invalid assessment - the present proceedings being collateral proceedings and if the assessment order is inherently...

5. Revision u/s 263 against non-existence entity - two consecutive revision proceedings - When the original revisionary order was itself illegal and without jurisdiction,...

6. Revision u/s 263 - Non deduction of TDS u/s 195 on brokerage pad to non-resident brokers - This fact is admitted by assessee as in the paperbook index it is mentioned...

7. Revision u/s 263 - penalty proceedings u/s 271AAB(1A) - The mandate under section 263 of the Act do not give any power to CIT to impose his satisfaction over the...

8. Revision u/s 263 - addition u/s. 68 - This is not a case of non-enquiry or non-application of mind. The Assessing Officer has examined all the evidences and taken a...

9. Validity of proceedings u/s 153C - addition u/s 69C - non satisfaction of the condition precedent viz. the seized document must belong to the assessee is a...

10. Revision u/s 263 - wrongful Capital gain computation - As further seen from the Revision Order the assessee has not made the claim of Stamp Duty expenses which is also...

11. Revision of assessment after 5 years - period of limitation - section 40 r.w.s. 28 & 31 of HVAT - Revision proceedings must conclude within 5 years from the date of...

12. Revision u/s 263 by CIT - if the learned PCIT was of the view that the AO failed to make the necessary enquiries which should have been made during the assessment...

13. Proceedings initiated u/s 144C - legality of the order by framing the so-called draft assessment order - while framing the said draft assessment order, the AO not only...

14. Penalty u/s. 271(1)(b) - Non response to notice issued in assessment proceedings - non response has already led to addition of the entire amount and the very purpose of...

15. Dishonour of Cheque - Effect of arbitration proceedings - The High Court referred to a Supreme Court judgment which clarified that arbitration proceedings and...