Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights This

Revision u/s 263 - wrong working of WIP - Pr. CIT has not ...

Income Tax

Revision u/s 263 - wrong working of WIP - Pr. CIT has not pointed out as to where the error has occurred. He had a suspicion that income is not accounted for correctly. Mere suspicion is no ground for exercise of power u/s. 263 of the Act. No verification or examination of the audited accounts is done by the Pr. CIT. As he has suspicion, he simply set aside the matter to the file of the AO for fresh adjudication. This is not permitted in law. - AT

View Source

 


 

You may also like:

  1. Revision u/s 263 - The Pr. CIT has not pointed out as to what is the error committed by the AO in accepting the replies from various parties. Without pointing out any...

  2. Revision u/s 263 - As the assessment was completed after making required amount of enquiry and there was no lake of enquiry or investigation by the AO on the issues...

  3. Revision u/s 263 - not making the addition of unpaid service tax is erroneous as well as prejudicial to the interest of the revenue - Order of Pr. CIT on this issue confirmed.

  4. Revision u/s 263 - AO while completing the assessment u/s 143(3) never applied his mind to various issues as pointed out by the CIT - revision upheld - AT

  5. Revision u/s 263 - Error in computing capital WIP - vis a vis the issue of accounting for income by the assessee whether in accordance with the Guidelines of the ICAI,...

  6. 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...

  7. Revision u/s 263 – IT was not justified in setting aside the order and directing for investigating the facts afresh without pointing out any specific fact which required...

  8. Revision u/s 263 - Invoking revisionary power u/s 263 of the Act is merely on suspicions is untenable. Further, the Ld. PCIT has not made any discussion on the issues...

  9. 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...

  10. Revision u/s 263 - There was an error in the assessment order passed by the A.O. in not bringing to tax the interest income in the year under consideration under the...

 

Quick Updates:Latest Updates