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Income Tax - Highlights / Catch Notes

Home Highlights September 2019 Year 2019 This

Revision u/s 263 - capital loss on account of share transactions ...

Income Tax

September 5, 2019

Revision u/s 263 - capital loss on account of share transactions - An order passed u/s 263 based on a mistake of fact, cannot be sustained. This is not a case of non enquiry or non application of mind. - AT

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  1. Revision u/s 263 by CIT - Wrong Capital gain computation as AO not examined the transaction by the angle of section 50C - in our considered view the view taken by the AO...

  2. Addition u/s 68 - share capital and share premium - allegation regarding identity and creditworthiness - non appearance of director - addition cannot be sustained merely...

  3. 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

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  6. Revision u/s 263 by CIT - When the case of the assessee was selected under CASS to examine the capital gains then the AO was required to examine the case meticulously on...

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  10. Set off of short term capital loss - Transaction in shares - When neither any payment was made nor any delivery was taken, then the transaction can not be held genuine - HC

 

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