Case Summary - Revision by CIT
Summary and Review of Case Laws on Revision of Order by CIT u/s 263
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
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
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
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
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
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
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
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
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
Published in Tribunal Cases
Analysis of Transfer Pricing, International Transactions Case Laws
Transfer Pricing - How to decide Comparables - Parameters suggested by Bangalore Tribunal, Section 10A allowed
GXS India Technology Centre Pvt. Ltd. vs. Income Tax Officer 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 Method - Whether Disallowing Claim of Taxpayer by following CUP Legitimate? - Is there a CUP?
The recent practice of the Indian revenue authorities (hereinafter “IRA”) have been notoriously disallowing the claim of the taxpayer towards… 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
Transfer Pricing - When functionally dissimilar the same should be excluded for benchmarking the international transactions - Mumbai Tribunal
TA Associates Advisory P. Ltd. vs. DCIT Read More
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