Revision u/s 263 - Claim of interest - bifurcation of the ...

Income Tax

January 1, 2020

Revision u/s 263 - Claim of interest - bifurcation of the interest expense between pre and post business commencement period - AO did not examine the issue in the manner in which it was expected from him in this regard and, therefore, the impugned action u/s 263 of the Act is entirely justified.

View Source

← Previous Next →

Revision u/s 263 - Claim of interest - bifurcation of the ...

Income Tax

January 1, 2020

You may also like:

Revision u/s 263 - assessee had utilized the unsecured loans for non business purpose and interest paid on the same has been claimed as business expenses - matter...

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 - 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 by CIT - Addition u/s 68 r.w.s 115BE - Nothing stated in the pre-amended or post amended provisions of section 115BBE that where the assessee surrenders...

Revision u/s 263 by CIT- underassessment of income - CIT doubted the expense claimed u/s. 57(iii) - Claim of general expenses against interest income - No doubt,...

If a sum was paid by the assessee that may render him liable to penal action, the same could not be allowed as deductible expense – revision u/s 263 upheld -HC

Distribution / bifurcation of cenvat credit amongst storage tanks and structures - for demand of Cenvat Credit related to structural, pre-deposit is directed for normal...

Revision u/s 263 by CIT - CIT has duly examined the nature of expenses. The expenses are related to medical grants and other grants and J&K flood affected employees -...

Post-award interest - To be calculated on principal sum due u/s 31(7)(b) of the Act - Claim of post award interest on the aggregte of the principal and pre-award...

Revision u/s 263 - The ITAT held that the AO had conducted adequate inquiries into the sales promotion expenses, as evidenced by the issuance of specific queries to the...

Quick Updates: