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

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 …

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 …

Order

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 …

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

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 …

Revisionary Order Invalid Due to Lack of DIN: ITAT

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 …

ITAT Holds Revisionary Order Passed Without Mentioning DIN As Invalid

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 …