Revision by CIT u/s 263

Case Summary - Revision by CIT

Summary and Review of Case Laws on Revision of Order by CIT u/s 263

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Tuesday, 24 July 2018 14:23

When sufficient material was not available to satisfy the two conditions for exercising power under Section 263 of the Act is Not Justified - Allahabad High Court

When sufficient material was not available to satisfy the two conditions for exercising power under Section 263 of the Act is Not Justified - Allahabad High Court

CIT VS Green Land Motors

Published in High Court Cases

Monday, 27 June 2016 13:32

Deduction u/s 80-IB - Once the Approval is Granted by the Prescribed Authority it would No longer be Open for the AO to Verify the Satisfaction of the Conditions Prescribed under Rule 18DA in order to Refuse Deduction - Gujarat High Court

Approval under Rule 18D & Deduction u/s 80-IB

Principal CIT vs. B.A.RESEARCH INDIA LTD

Published in High Court Cases

Friday, 17 June 2016 11:56

When the Order Under Section 263 Sought to Revise the Issue Decided in the Original Assessment Order then the Limitation Must Necessarily Begin to Run from the Order Under Section 143(3) and Not from Order Under Section 147 - Cochin Tribunal

Time Barring - Section 263

The Thirumbadi Rubber Co Ltd vs. DCIT

Published in Tribunal Cases

Thursday, 07 April 2016 17:18

Section 263 - Cannot be initiated on debatable issues - Tax is not required to be deducted from reimbursement of actual expenses under any provisions of the Act - Mumbai Tribunal

TDS on Reimbusement of Expenses

Neo Sports Broadcast Pvt. Ltd. vs. Principal Commissioner of Income Tax

Published in Tribunal Cases

Monday, 29 February 2016 15:07

Section 40A(3) - Unjustified when payments were made to supervisors - Section 263 - Action not warranted when AO has taken a concise decision of not making addition - Amritsar Tribunal

Section 40A(3) - Unjustified when payments were made to supervisors - Section 263 - Action not warranted when AO has taken a concise decision of not making addition - Amritsar Tribunal

Sartaj Singh vs. Principal Commissioner of Income Tax

Published in Tribunal Cases

Wednesday, 17 February 2016 16:55

Section 263 - Fulfillment of twin condition is must i.e. assessment order should be erroneous and it should cause a prejudice to the Revenue. If any one condition is lacking, then action u/s 263 would not be justified - Ahmedabad Tribunal

Section 263 - Fulfillment of twin condition is must i.e. assessment order should be erroneous and it should cause a prejudice to the Revenue. If any one condition is lacking, then action u/s 263 would not be justified - Ahmedabad Tribunal

Jay Agriculture & Horticulture Pvt.Ltd. vs. Pr.CIT

Published in Tribunal Cases

Saturday, 13 February 2016 18:29

Expenditure incurred by the assessee on issue of Foreign Currency Convertible Bonds (FCCB) is revenue expenditure - Hyderabad Tribunal

Expenditure incurred by the assessee on issue of Foreign Currency Convertible Bonds (FCCB) is revenue expenditure - Hyderabad Tribunal

Gati Limited vs. Income Tax Officer

Published in Tribunal Cases

Sunday, 27 September 2015 11:23

Section 263 - Depreciation allowed after considering assessee's explanation which may be debatable however action u/s 263 is unjustified - Ahmedabad tribunal

Section 263 - Depreciation allowed after considering assessee's explanation which may be debatable however action u/s 263 is unjustified - Ahmedabad tribunal

Adani wilmar Limited vs. DCIT

Published in Tribunal Cases

Sunday, 23 August 2015 11:55

Section 263 - Justified when CIT categorically pointed out the shortfall and absence of inquiry done by the AO, Assessee not required to be put to notice on the evidences relied by CIT - Panaji Tribunal

Section 263 - Justified when CIT categorically pointed out the shortfall and absence of inquiry done by the AO, Assessee not required to be put to notice on the evidences relied by CIT - Panaji Tribunal

Timblo Pvt. Ltd. vs. Principal Commissioner of Income Tax

Published in Tribunal Cases

Wednesday, 19 August 2015 20:30

Section 263 - AO failed to make inquiry on important issues and thus order is erroneous and prejudicial to interest of Revenue - CIT's action u/s 263 justified - Delhi Tribunal

Section 263 - AO failed to make inquiry on important issues and thus order is erroneous and prejudicial to interest of Revenue - CIT's action u/s 263 justified - Delhi Tribunal

PVS Multiplex (India) Ltd. vs. Commissioner of Income Tax

Published in Tribunal Cases

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Analysis of Transfer Pricing, International Transactions Case Laws

Section 144C - Transfer Pricing - Four comparables cannot be considered as too small a sample for Transfer Pricing study - Bangalore Tribunal
Amba Research (India) Ltd. vs. DCIT Read More
PE Test - Is Fixed place of business @ the disposal of foreign enterprise?
The relevance to determine existence of PE of a foreign enterprise earning income in India cannot be undermined particularly when… Read More
Expenditure incurred by the assessee on issue of Foreign Currency Convertible Bonds (FCCB) is revenue expenditure - Hyderabad Tribunal
Gati Limited vs. Income Tax Officer Read More
Transfer Pricing - Eligible Assessee u/s 144C(15)(b) - If the Assessee is not a foreign company and TPO has not proposed any variation to the return filed then the Assessee is not Eligible Assessee - Delhi High Court
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