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Income Tax - Highlights / Catch Notes

Home Highlights November 2015 Year 2015 This

Revision u/sec. 263 - CIT has exceeded his jurisdiction in ...

Income Tax

November 30, 2015

Revision u/sec. 263 - CIT has exceeded his jurisdiction in directing the Assessing Officer to initiate penalty proceedings u/s 271(1)(c) - AT

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  1. Revision u/s 263 - Validity of proceedings – CIT has no jurisdiction to direct the Assessing Officer to initiate proceedings u/s 201(1A) - AT

  2. Revision u/s 263 - CIT has merely directed the Assessing Officer to make an elaborate inquiry. - revision is not valid - AT

  3. Revision u/s 263 - Explanation 2 to section 263 (Deeming erroneous order) is applicable only when there is no enquiry made by the Assessing Officer.

  4. Revision u/s 263 - Ld. Pr. CIT exercising jurisdiction under section 263 of the Act, directed the AO to make fresh assessment on the issues which were not the subject...

  5. Revision u/s 263 - assessment order passed u/s 153A r.w.s 143(3) - no any incriminating material unearthed by search team therefore Assessing Officer’s order is not erroneous.

  6. 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

  7. Revision u/s 263 - entire materials on record were not considered by the Assessing Officer - It would have definitely be an erroneous procedure adopted by the AO - HC

  8. 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

  9. Revision u/s 263 - Not only the Pr. CIT had on the basis of a misconceived reading of the position of law directed the Assessing Officer to initiate penalty proceedings...

  10. Validity of order u/s 263 - power of CIT - Once the Assessing Officer has followed a decision of jurisdictional High Court , then there was no jurisdiction to revise...

 

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