Revision u/s 263 - assessee has claimed as exempt LTCG seemed to ...

Income Tax

January 28, 2020

Revision u/s 263 - assessee has claimed as exempt LTCG seemed to be bogus - it is too early on the part of the Pr. CIT to direct the AO to redo the assessment so that abuse of provision of section 10(38) is prevented and income is brought to tax in light of recent judgments in penny stock cases.

View Source

← Previous Next →

Revision u/s 263 - assessee has claimed as exempt LTCG seemed to ...

Income Tax

January 28, 2020

You may also like:

Revision u/s 263 - CIT was clothed with ample supervisory powers to direct for redoing the assessment provided twin conditions as envisaged by Section 263 were fulfilled.

Revision u/s 263 - The Pr. CIT while passing the order u/s 263 cannot remand the matter back to the AO for passing the fresh order as it will lead to the conclusion that...

Revision u/s 263 - Use of word "seems" by the CIT while recording reasons - It seems that, Assessment order passed by the A.O. in this case is erroneous and prejudicial...

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...

Revision u/s 263 - the sole reason for completing the scrutiny assessment was suspicious LTCG earned by assessee based on information received from Investigation Wing,...

Revision u/s 263 - claim of deduction of expenditure and depreciation but no revenue has been earned - Pr.CIT has directed the AO to make further enquiry on the...

Revision u/s 263 - AO made detailed inquiries regarding claim of LTCG before accepting the same - it was incumbent upon Pr.CIT to make inquiry so as to reach the...

Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

Revision u/s 263 - Erroneous allowance of deduction u/s 54B - it is not the case that the AO has not made enquiry. Indeed the Pr. CIT initiated proceedings under section...

Revision u/s 263 - period of limitation - We adopting a cautious but not a pedantic approach, though, refrain from restraining the A.O from proceeding with the...

Quick Updates: