Revision u/s 263 - mandation for the AO to apply Rule 8 - Rule ...

Income Tax

June 30, 2016

Revision u/s 263 - mandation for the AO to apply Rule 8 - Rule 8D is not automatic and can be resorted to by the AO only as a measure of last resort. - Revision order quashed - AT

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Revision u/s 263 - mandation for the AO to apply Rule 8 - Rule ...

Income Tax

June 30, 2016

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Revision u/s 263 - AO while completing the assessment u/s 143(3) never applied his mind to various issues as pointed out by the CIT - revision upheld - AT

Disallowance u/s 14A - expenses towards exempted income - AO could not have straightaway resorted to Rule 8D(2)(iii) of the Rules in order to compute the disallowance u/s 14A - AT

Revision u/s 263 - undisclosed income of the firm - Having arrived at the true nature of assessee's activities of that of an accommodation entry provider, the AO has...

Revision u/s 263 - Merely because that the AO did not discuss these details in the assessment order does not mean that he has not applied his mind.

Revision u/s 263 - Disallowance u/s 14A r.w.r 8D - In case, the ld. 1st Appellate Authority forms an opinion that ld. AO has committed an error by not making complete...

Revision u/s 263 - AO drop the proceedings u/s 147 satisfying that no escapement earlier alleged - when for the AO it was no more open for him to travel to other...

Appraisal report available but AO ignored, a fit case for revision u/s 263 - HC

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.

Revision u/s 263 by CIT - Unexplained Cash deposited in the bank account - taxability of profit @ 8% u/s. 44AD - This action of the assessee was accepted by the AO...

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