Revision u/s 263 - Sure, the AO having not considered this ...

Assessing Officer's Oversight on Property Transfer Date Leads to Upheld Revision u/s 263.

August 2, 2022

Case Laws Income Tax AT

Revision u/s 263 - Sure, the AO having not considered this aspect of the matter at all, there was no occasion for the assessee to clarify anything thereto, much less qua the date of transfer, which forms the fulcrum of his case/s. It does not, however, lie in the mouth of the assessee, who “explained” the source of the investment in property purchased during the year, to contend that the date of the said purchase falls in the immediately preceding year i.e., in the facts and circumstances of the case and the law in the matter. - Revision proceedings sustained - AT

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Revision u/s 263 - Sure, the AO having not considered this ...

Assessing Officer's Oversight on Property Transfer Date Leads to Upheld Revision u/s 263.

August 2, 2022

Case Laws Income Tax AT

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