Revision u/s 263 by CIT - Unexplained investments in foreign ...

Income Tax

January 17, 2022

Revision u/s 263 by CIT - Unexplained investments in foreign financial - First and foremost this was not the purpose for the limited scrutiny assessment, which only required the AO to inquire whether the investment were duly disclosed. The AO having examined the same, he was not required to go beyond the stated purpose. The assessment order cannot be said to be erroneous therefore for not having examined an issue which it was not required to. - AT

View Source

← Previous Next →

Revision u/s 263 by CIT - Unexplained investments in foreign ...

Income Tax

January 17, 2022

You may also like:

Investment by Foreign Portfolio Investors (FPI) in Government Securities Medium Term Framework – Review - Revision of Limits

Revision u/s 263 - if the enquiry of such unexplained investment is not done then same would be erroneous order prejudicial to the interest of the Revenue u/s 263 - thus...

Revision u/s 263 - unexplained investments - non-initiation of penalty u/s u/s 271(1)(c) of the Act render the order erroneous and prejudicial to the interest of the...

Revision u/s 263 - Invocation of revision proceedings for the second time - As pertinent to point out that there was no bar on limitation by the ld. PCIT to invoke...

Unexplained investment u/s 69 - The aspect that this income was not declared in the original return of income cannot be a ground to automatically conclude that it is...

Sum advanced to sister concern by cheques drawn – Unexplained investment or not - it has been rightly treated as unexplained investment in terms of Section 69B of the...

Unexplained cash credit/debits – unexplained investment - the burden to establish the existence of investment was on the Revenue, which has not been discharged - AT

Unexplained investment u/s 69 – Assessee paid up additional stamp duty on valuation - This by itself would not mean that the assessee made any unexplained investment - HC

Revision u/s 263 - unexplained cash deposited in the bank account of the assessee - - when there is claim of investment being made out of unrecorded hospital receipts he...

Foreign investment in Single–Brand Product Retail Trading/Multi-Brand Retail Trading/Civil Aviation Sector/Broadcasting Sector/Power Exchanges - Amendment to the Foreign...

Quick Updates: