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Articles for Revisionary, search results for assessment

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
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