Revision u/s 263 - the head of assessee’s income derived from ...

Court Rules Holiday Home Income as Business Income; Section 263 Jurisdiction Assumption Improper.

July 14, 2020

Case Laws Income Tax AT

Revision u/s 263 - the head of assessee’s income derived from its holiday homes i.e. whether it is income from house property as per the PCIT, business income going by the AO in assessment and the CIT(A) and the residuary had of “other” sources in its computation; respectively, is purely a debatable issue. - Assumption of jurisdiction u/s 263 is not proper.

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Revision u/s 263 - the head of assessee’s income derived from ...

Court Rules Holiday Home Income as Business Income; Section 263 Jurisdiction Assumption Improper.

July 14, 2020

Case Laws Income Tax AT

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