Revision u/s 263 - Explanation 2(d) under section 263 ...

CIT's Revision Powers Limited: Section 263 Requires Jurisdictional High Court or Supreme Court Judgments, Avoiding Unwarranted Interventions.

April 18, 2018

Case Laws Income Tax AT

Revision u/s 263 - Explanation 2(d) under section 263 specifically states that revision is possible only due to judgments of the jurisdictional High Court or supreme court. - as there were two views were available, the Ld. CIT should not be allowed to invoke the powers u/s.263. - If the answer of the above refereed question held as yes, then the Ld. CIT will invoke power in each and every cases and will create a huge mess. - AT

View Source

← Previous Next →

Revision u/s 263 - Explanation 2(d) under section 263 ...

CIT's Revision Powers Limited: Section 263 Requires Jurisdictional High Court or Supreme Court Judgments, Avoiding Unwarranted Interventions.

April 18, 2018

Case Laws Income Tax AT

You may also like:

Revision u/s 263 by CIT - sale of impugned land measuring 10.162 acres below the stamp duty value - under the given circumstances, it can be safely concluded that the...

Revision power u/s 264 - CIT committed a manifest error in exercising revisional power when petitioner's appeal was pending before CIT (Appeals) - HC

CIT(A) allowed assessee to withdraw appeal against section 263 revision order, stating Tribunal quashed section 263 order and CIT(A) erred in not deciding appeal merits....

Revision u/s 263 - carry forward of losses on sale of shares - where there are two possible views and the Assessing Officer has taken one of the possible views, no...

The ITAT allowed the assessee's appeal on the issue of disallowance of deduction u/s 80-IA. It held that the arm's length price for transfer of power from the captive...

Revision u/s 263 - No enquiry was undertaken by CIT - Order of the Pr. CIT only contains the conclusion arrived that the order of the AO is erroneous but gives no...

Powers conferred to CIT(A) u/s 251 - CIT(A) power to direct the AO for issuance of notice u/s 148 - In the present case, Ld.CIT(A) annulled the assessment and further...

Revision u/s 263 - Revision based on Audit Objection - a mechanical exercise of revisionary powers u/s 263 by the Revisionary Authority by merely citing the Audit...

Revision u/s 263 - power of CIT to revise - return processes u/s 143(1) is not subjected to revision - AT

Revision u/s 263 by CIT - mistake of non-initiation or incorrect initiation of penalty - the inherent indication u/s 271(1) makes it clear that the Pr. CIT / CIT does...

The ITAT Delhi held that the CIT(A) erred in not conducting a proper enquiry into the unexplained credit u/s 68. The AO and CIT(A) have a duty to investigate thoroughly....

Rectification of mistake - The scope and ambit of the power which could be exercised u/s 254(2) is circumscribed and restricted within the ambit of the power vested by...

Revision u/s 263 involving excess deduction of transport expenses and non-deduction of TDS on transportation charges. CIT held AO failed to verify adequately, rendering...

Revision u/s 263 - For the purpose of exercising jurisdiction u/s 263 of the Act, the conclusion that the order of the AO is erroneous and prejudicial to the interest of...

Power of CIT(A) to dismiss the appeal in limine ex-parte - Section 251 does not give any power to the ld. CIT (A) dismissing the appeal for non-prosecution. Hence, in...

Quick Updates: