Revision u/s 263 - once the books of account are found to be ...

Income Tax

June 17, 2015

Revision u/s 263 - once the books of account are found to be unreliable and rejected resulting in estimation of profit, AO is not required to enquire or examine the individual items of expenditures or other issues - revision order is not correct - AT

View Source

← Previous Next →

Revision u/s 263 - once the books of account are found to be ...

Income Tax

June 17, 2015

You may also like:

Revision u.s 263 - assessment order passed pursuant to the revisionary order has resulted in reduction of tax liability - not prejudicial to the interest of the Revenue...

Addition on account of low GP - cause and effect relationship between the defect found by the AO and the addition made - AO rejected the book results as unreliable, but...

Disallowance of assessee’s claim for depletion of closing stock - sales to related parties - there was no justifiable reason for the AO to reject the said evidence and...

Once the book results are rejected by invoking provisions of section 145(3) of the Act, no separate additions could be made under section 68 - AT

Revision u/s 263 - unaccounted interest payments - the Commissioner of Income Tax cannot find fault and he cannot impose his view on the Assessing Officer - AT

TP adjustment - Segment results cannot be said to be unreliable. However on perusal of the transfer pricing order, we agree with the ld. DR that these segmented results...

Revision u/s 263 by CIT- AO is first an investigating officer thereafter he is an adjudicator but here in this case, the AO remained silent, but, he ought to have...

Revision u/s 263 - estimation of income - Entire exercise of the fact finding in the form of estimation of income under the powers conferred upon the Assessing...

Revision u/s 263 by CIT - inadequate v/s no enquiry - unsecured loan, difference in stock and late payment of PF & ESI - The Tribunal reviewed each of the contested...

Addition on account of deposit of cash during the demonetization period - allegation of sham transactions - the AO has acted on mere surmise and conjectures without duly...

Quick Updates: