Revision u/s 263 - assumption of revisionary jurisdiction by ...

PCIT Challenges AO's Classification of NSEL Trading Income u/s 263; AO's Decision Deemed Accurate, Not Erroneous.

June 11, 2021

Case Laws Income Tax AT

Revision u/s 263 - assumption of revisionary jurisdiction by PCIT - once the revenue has accepted the income from trading in commodity on NSEL as business income, then loss which arise from the NSEL trading cannot be termed as Speculation loss. Consequently, the view taken by the AO cannot the termed as erroneous. - AT

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Revision u/s 263 - assumption of revisionary jurisdiction by ...

PCIT Challenges AO's Classification of NSEL Trading Income u/s 263; AO's Decision Deemed Accurate, Not Erroneous.

June 11, 2021

Case Laws Income Tax AT

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