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Articles for Revisionary

[S.263 IT Act] Revisionary Power Can Be Invoked When Order Meets Twin Conditions Of Being Erroneous, Prejudicial To Interest Of Revenue: Delhi HC
1 month, 1 week ago

[S.263 IT Act] Revisionary Power Can Be Invoked When Order Meets Twin Conditions Of Being Erroneous, Prejudicial To Interest Of Revenue: Delhi HC

Live Law  

The Delhi High Court has held that in order to invoke Section 263 of the Income Tax Act, 1961, the Principal Commissioner must satisfy “twin conditions”, i.e. A division bench of Justices Vibhu Bakhru and Swarana Kanta Sharma observed, “Twin conditions have to be met for assuming jurisdiction under Section 263 of the Act, and the PCIT has to form …

Court Income Tax Case Interest Revenue Held Commissioner
ITAT Half Yearly Digest: January To June 2024 - PART II
5 months, 1 week ago

ITAT Half Yearly Digest: January To June 2024 - PART II

Live Law  

Failure To Produce Share Certificate Is No Basis To Doubt Share Purchase Transaction: Mumbai ITAT Refers Art 265 Of Constitution Case Title: Shantaben Fathechand Mehta verses Income-tax Officer Referring to Article 265 of the Constitution of India, the Mumbai ITAT remanded the case to the file of AO with direction to verify factual aspects, pertaining to the purchase of the …

India Delhi Mumbai Kolkata Hyderabad Tax Customs
ITAT Half Yearly Digest: January To June 2024 - PART I
5 months, 1 week ago

ITAT Half Yearly Digest: January To June 2024 - PART I

Live Law  

S. 54F Exemption Not Available On Property Predominantly Being Used For Religious Purposes: ITAT Case Title: Asstt. Explanation 3 To Sec 147 Can't Be Resorted To Make Addition On Any Other Issue Which Is Not Included In Reasons For Reopening: New Delhi ITAT Case Title: Vishram Sahakari Awas Samiti Limited verses ITO On finding that no addition is made based …

India Delhi Kolkata Tax Indian Income Tax Title
Revisionary Power Can't Be Invoked On Allegation Of Improper Inquiry By AO: Delhi ITAT
6 months ago

Revisionary Power Can't Be Invoked On Allegation Of Improper Inquiry By AO: Delhi ITAT

Live Law  

The Delhi Bench of Income Tax Appellate Tribunal has held that the assessment order cannot be held to be erroneous and prejudicial to the interest of revenue merely on the allegation that the Assessing Officer has not made an inquiry and verification with regard to cash deposits as well as scrap sales.The bench of Saktijit Dey and Naveen Chandra. The …

Assessment Order Income Interest Officer Allegation Itat
Mere Difference Of Opinion With AO Is No Basis To Exercise Revisionary Power U/s 263: Chandigarh ITAT Confirms Sec 80P Deduction Granted By AO
6 months, 3 weeks ago

Mere Difference Of Opinion With AO Is No Basis To Exercise Revisionary Power U/s 263: Chandigarh ITAT Confirms Sec 80P Deduction Granted By AO

Live Law  

The Chandigarh ITAT quashed the revision order u/s 263 holding that application of mind is discernible from examination of the record and that “the power under Section 263 of the Act was exercised on the basis of a mere difference in opinion with the AO, rendering such exercise of revisionary power to be invalid”. The Division Bench comprising A.D. Jain …

Assessment Bank Order Cooperative Sec Bench Deduction
President's Power Of Review Under Rule 29(A) Of CCS (CCA) Rules 1965 Is Of A Revisionary Nature And Not Of A a Nature Of Reviewing One's Own Order: CAT Cuttack
7 months, 2 weeks ago

President's Power Of Review Under Rule 29(A) Of CCS (CCA) Rules 1965 Is Of A Revisionary Nature And Not Of A a Nature Of Reviewing One's Own Order: CAT Cuttack

Live Law  

The Central Administrative Tribunal Cuttack bench of Sudhi Ranjan Mishra and Pramod Kumar Das held that under Rule 29 of CCS Rules 1965 the President has the power to review any order under the CCS Rules, 1965 including an order of exoneration. Brief Facts: The matter pertained to a departmental proceeding initiated against the Applicant in 2007 under Rule 14 …

Order Applicant Rules Review Respondent No Upsc President
Matter Which Is Not The Subject Matter Of Limited Scrutiny Cannot Be Raised In Revisionary Proceedings: ITAT
2 years ago

Matter Which Is Not The Subject Matter Of Limited Scrutiny Cannot Be Raised In Revisionary Proceedings: ITAT

Live Law  

The Chandigarh Bench of the Income Tax Appellate Tribunal has held that matters that were not subject to limited scrutiny cannot be raised in revisionary proceedings.The two-member bench of Diva Singh and Vikram Singh Yadav has observed that the matter relating to wages and labor expenses, which was not subject to limited scrutiny, cannot be raised. The Chandigarh Bench of …

Income Judicial Limited Matter Raised Itat Subject
Revisionary Order Invalid Due to Lack of DIN: ITAT
2 years, 4 months ago

Revisionary Order Invalid Due to Lack of DIN: ITAT

Live Law  

The Kolkata Income Tax Appellate Tribunal has declared the revisionary order passed by the CIT and deemed to have never been issued as it fails to mention Document Identification Number in its body by adhering to the CBDT circular. The two-member bench of Sanjay Garg and Girish Aggarwal observed that there was no reference to the fact that the order …

Kolkata Tax Income Issued Itat Assessee Ita
ITAT Holds Revisionary Order Passed Without Mentioning DIN As Invalid
2 years, 4 months ago

ITAT Holds Revisionary Order Passed Without Mentioning DIN As Invalid

Live Law  

The Kolkata Bench of the ITAT has quashed the revisionary order passed by the Income Tax Authority without quoting the Document Identification No. The Bench, consisting of Mr. Sanjay Garg and Mr. Girish Agrawal, held that since the order passed by the Income Tax Authority failed to mention the DIN in its body, therefore, the said order was "invalid and …

Tax Income Tax Order Income Department Passed Issued
Monthly Digest Of Tax Cases- April 2022
2 years, 7 months ago

Monthly Digest Of Tax Cases- April 2022

Live Law  

Indirect Taxes Supreme Court 1.Plea In Supreme Court Challenges The Constitutional Validity Of Levy Of GST On Lease/ Rent Payments Case Title: Myrayash Hotels Pvt. 2.Show Cause Notice Completely Deficient In Material Particulars: Delhi High Court Quashes GST Registration Cancellation Order Case Title: Fada Trading Private Limited Versus Commissioner Goods and Service Tax Citation: 2022 LiveLaw 328 The Delhi High …

India Karnataka Justice Delhi Mumbai Supreme Court High Court