Revision u/s 263 - According to the scheme of the Act, the ...

Income Tax

August 26, 2015

Revision u/s 263 - According to the scheme of the Act, the revenue is entrusted with the levy and collection of tax in accordance with law. If due to an erroneous order of the Assessing Officer, the revenue is deprived of tax lawfully payable by an assessee, it would certainly be prejudicial to the interests of the revenue. - HC

View Source

← Previous Next →

Revision u/s 263 - According to the scheme of the Act, the ...

Income Tax

August 26, 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...

Revision u/s 263 - not making the addition of unpaid service tax is erroneous as well as prejudicial to the interest of the revenue - Order of Pr. CIT on this issue confirmed.

Revision u/s 263 - claim of TDS - In the absence of any demonstrable loss of revenue, interference in exercise of power u/s 263 cannot be justified - AT

Revision u/s 263 - any loss of revenue as a consequence of an order passed by the Assessing Officer cannot be treated as prejudicial to the interests of revenue - AT

Revision u/s 263 - tds credit issue non examination by AO - non examination of an issue by the AO renders the assessment erroneous and prejudicial to the interests of the revenue

Revision u/s 263 - valuation of closing stock, non increasing of closing stock by proportionate other direct expenses - The alleged under valuation of closing stock is a...

Revision u/s 263 - Issue considered and decided in appeal by appellate authorities, such matters cannot be subject to revision u/s 263. Rationale behind exclusion of...

Exemption granted on Invalid F-Form – Invocation of revision jurisdiction – KGST - If there was error resulting in revenue losing tax, it would be prejudicial to...

Revision u/s 263 - expenditure on purchased CDs on Jain Religion - AO had carried out detailed enquiries and taken a plausible view and accepted the assessee's treatment...

Revision u/s 263 - Deduction u/s 80IC - Since, AO had not expressed any view in that behalf as is discernible from the assessment order, revision order sustained.

Quick Updates: