Revision u/s 263 - When the Assessing Officer after exhaustive ...

Pr. CIT can't revise assessments u/s 263 just to substitute their judgment for Assessing Officer's decision.

May 5, 2022

Case Laws Income Tax AT

Revision u/s 263 - When the Assessing Officer after exhaustive deliberations had accepted the explanation of the assessee and refrained from drawing any adverse inferences in its hand qua the issue in question i.e. contents of the seized loose sheet, therefore, the Pr. CIT in the garb of exercise of his revisionary jurisdiction u/s.263 of the Act could not have sought for substitution of his view as against that arrived at by the Assessing Officer. - AT

View Source

← Previous Next →

Revision u/s 263 - When the Assessing Officer after exhaustive ...

Pr. CIT can't revise assessments u/s 263 just to substitute their judgment for Assessing Officer's decision.

May 5, 2022

Case Laws Income Tax AT

You may also like:

Revision u/s 263 - assessment order as contrary to the draft assessment order - The remedy against unjust disallowances, on merits, lies in the appellate process and not...

Revision u/s 263 by CIT - receipt of share premium - the power of revision u/s 263 does not allow for supplanting or substituting the view of the Assessing Officer. The...

Reopening of assessment u/s 147 - Assessing Officer to usurp the jurisdiction to reopen the assessment - The first Assessing Officer has made the reassessment after...

Revision u/s 263 - addition u/s 68 - The Assessing Officer has taken a possible view. When the Assessing Officer follows the direction of the Ld. Pr. CIT, in his order...

The Tribunal held that the assessment order passed by the Assessing Officer was barred by limitation and quashed it. As per Section 144C(13) read with Section 143(3),...

Depreciation u/s 32 on non compete fee - For the assessment year 2003-04, the CIT(A) allowed it and the Assessing Officer gave effect to the order passed by the CIT(A)....

The Appellate Tribunal dismissed the assessee's appeal regarding the revision u/s 263 concerning unsecured loans received. The Principal Commissioner found that the...

Revision u/s 263 by CIT - The Appellate Tribunal found that the PCIT's assumption of jurisdiction under Section 263 was not justified. It observed that the assessment...

Reopening of assessment u/s 147 - Once a query has been raised by Assessing Officer through the assessment proceeding and the assessee has responded to that query, it...

Validity of order u/s 263 - power of CIT - Once the Assessing Officer has followed a decision of jurisdictional High Court , then there was no jurisdiction to revise...

Assessment u/s 153A - Addition u/s 69A by the Assessing Officer on account of difference in amount credited in bank and sale proceeds shown in the income tax return. It...

Assessee received funds from four parties, which were not considered by the Assessing Officer (AO) during assessment proceedings u/s 147 read with Section 144. The...

Revision u/s 263 - bogus purchase - proof of nexus between the purchases and sales - once submission/reply filed by the assessee, pursuant to enquiry by the Assessing...

Revision u/s 263 - Once the valuation report has not been sent by the valuation officer to the assessing officer/assessee, within the period stipulated by the act that...

The assessment years beyond six years but not exceeding ten years can be reopened u/s 153A only if the Assessing Officer possesses evidence depicting escapement of...

Quick Updates: