Revision u/s 263 - different treatments cannot be given on the ...

Inconsistent Tax Treatment of Co-Owners Quashed u/s 263 for Violating Article 14 Equality Principle.

June 27, 2022

Case Laws Income Tax AT

Revision u/s 263 - different treatments cannot be given on the same set of facts in respect of different co-owners of a common piece of land which are subjected to capital gains. If such action on the part of Revision Authority is approved, it would militate against the principle of equality of law as enshrined in the Article 14 of the Constitution. Further, it is seen that the ld.CIT has not taken any steps for reopening the case of other co-owner viz. Shri Vijay Patel and thereby accepted similar long term capital gain and claim of deduction under section 54 and 54F of the Act on the said transaction. - Revision order quashed - AT

View Source

← Previous Next →

Revision u/s 263 - different treatments cannot be given on the ...

Inconsistent Tax Treatment of Co-Owners Quashed u/s 263 for Violating Article 14 Equality Principle.

June 27, 2022

Case Laws Income Tax AT

You may also like:

The High Court upheld the constitutional validity of the Chhattisgarh Sthaniya Kshetra me Mal Ke Pravesh Par Kar Adhiniyam, 1976 (Local Body Tax or Entry Tax Act),...

HC ruled that tax authorities cannot retain excess deposits made during appellate proceedings when final assessment is lower than deposited amount. Such retention...

Tax credit under article 23(2) of India Japan Double Taxation Avoidance Agreement ['Indo Japanese tax treaty'] - on the peculiarities of Indo Japanese tax treaty...

The ITAT held that the order passed by the Commissioner of Income Tax (Appeals) [CIT(E)] u/s 263 of the Income Tax Act was quashed. The notice issued u/s 263 was not...

Reopening of assessment - Validity of approval granted by the CIT - earlier Revision u/s 263 dropped - Notwithstanding this order passed by the Principal Commissioner of...

The assessee earned income from professional services rendered in foreign countries like Japan, Nepal, and Singapore. The Income Tax Appellate Tribunal (ITAT) examined...

Penalty levied u/s 274 read with Section 270A - assessee computed tax on disallowed depreciation amount at maximum marginal rate and levied 200% penalty on payable tax -...

The petitioner sought release of an export subsidy of Rs. 8,08,50,000/-. The respondent confirmed that the milk powder exported by the petitioner, amounting to 1617...

TDS u/s 195 - DTAA with Uganda - professional services - the services received by the assessee from these three persons is covered by article 14 and therefore, the same...

Order cancelling petitioner's registration violated principles of natural justice as it was passed mechanically without application of mind and without assigning reasons....

Revision u/s 263 - The argument of the petitioner that the assessment order was not prejudicial to the interest of revenue and therefore the proceeding under Section 263...

Assessee's contention upheld that for AY 2019-20, profit is required to be set off against business loss of AY 2018-19 and remaining profit against brought forward...

Revision u/s 263 - The word ‘may’ used in Section 263 should be presumed to be shall or otherwise interpreting the word “may” as not mandatory, orders can be passed even...

The petitioner is required to calculate taxable turnover by excluding turnover not subjected to tax, exempt goods, and labor/service charges for works contracts as per...

Transitional Credit - validity of period of limitation under GST - The statute in any manner do not violate Article 14 or 19(1)(g) of the constitution

Quick Updates: