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Income Tax - Highlights / Catch Notes

Home Highlights October 2022 Year 2022 This

Revision u/s 263 by CIT - As per CIT there is violation of ...

Income Tax

October 30, 2022

Revision u/s 263 by CIT - As per CIT there is violation of section 40A(3) not considered by AO - if all such vouchers reflecting cash payment to a single party/creditor in a day are aggregated , then the total cash payment in a day to a particular party/creditor is exceeding Rs. 20,000/- - Assessing Officer has not considered the issue in proper perspective and there is no estoppels against law. - AT

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  1. Revision u/s 263 - violation of the provisions of section 40A(3) - CIT is not justified in invoking jurisdiction u/s 263 on the strength of an audit note - AT

  2. Revision u/s 263 by CIT - addition u/s 40A ignored by AO - expenses have been incurred in cash exceeding Rs. 20,000/- per day - AO is expected to examine the provisions...

  3. Disallowance u/s 40A(3) - payment in case for purchase of recharge vouchers from Tata Teleservices Limited - payments were genuine - rigors of section 40A(3) / Rule 6DD...

  4. Revision u/s 263 - It is manifest from the record and particularly from the assessment order and order sheet entries that the AO has not taken up this issue of...

  5. Revision u/s 263 - Cash payments towards purchase of capital goods - Violation of the provisions of section 40A(3) - PCIT himself could have examined the impugned...

  6. Revision u/s 263 - addition u/s 40A(3) - when the entire materials were placed before the Ld. AO during the course of assessment proceeding and only upon verification of...

  7. Revision u/s 263 - AO while completing the assessment u/s 143(3) never applied his mind to various issues as pointed out by the CIT - revision upheld - AT

  8. Additions u/s 40A(3) - Payment made in Cash - Since the AO has not doubted the genuineness of the expenses as no such disallowance has been made and the AO has made only...

  9. Revision u/s 263 - bogus liability towards purchases - payment in expenditure cash during the next year - The implications, if any, in respect of discharge of liability...

  10. Difference of TDS as per 26AS and TDS as declared in Return of Income (ROI) - AO failed to make inquiries - revision order u/s 263 is valid - AT

 

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