![PCIT cannot impose his own Understanding of extent of inquiry u/s 263: ITAT quashes Revisionary Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/09/PCIT-ITAT-revisionary-order-taxscan.jpg "PCIT cannot impose his own Understanding of extent of inquiry u/s 263: ITAT quashes Revisionary Order [Read Order]")
PCIT cannot impose his own Understanding of extent of inquiry u/s 263: ITAT quashes Revisionary Order [Read Order]
The Income Tax Appellate Tribunal (ITAT), Rajkot Bench quashed the revisionary order and held that the Principal Commissioner of Income Tax (PCIT)...
![Relief to Cricket Club of India: ITAT quashes Revision u/s 263 and upholds claim of Mutuality [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Cricket-Club-of-India-ITAT-Revision-Mutuality-taxscan.jpg "Relief to Cricket Club of India: ITAT quashes Revision u/s 263 and upholds claim of Mutuality [Read Order]")
![Jurisdiction of PCIT will sustain if AO failed to rightly compute Capital Gain on Sale of Land: ITAT upholds Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Jurisdiction-PCIT-AO-capital-gain-sale-of-land-ITAT-revisional-order-Taxscan.jpg "Jurisdiction of PCIT will sustain if AO failed to rightly compute Capital Gain on Sale of Land: ITAT upholds Revisional Order [Read Order]")
![Mere Suspicions of PCIT cannot be basis for Initiation Proceedings u/s 263: ITAT quashes Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/PCIT-ITAT-Revisional-Order-taxscan.jpeg "Mere Suspicions of PCIT cannot be basis for Initiation Proceedings u/s 263: ITAT quashes Revisional Order [Read Order]")
![PCIT fails to Record reason for Revision: ITAT quashes order u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/PCIT-Revision-ITAT-raxscan.jpeg "PCIT fails to Record reason for Revision: ITAT quashes order u/s 263 [Read Order]")
Failure to comply with Valuation as per Stamp Duty u/s 50C will not render Assessment 'Erroneous' If Sale was under SARFEASI Act: ITAT [Read Order]
The Income Tax Appellate Tribunal (ITAT), Delhi bench comprising N.K. Billaiya, Accountant Member, and Shri Yogesh Kumar, Judicial Memberhave observed thatan assessment order cannot be held as...
![Failure to comply with Valuation as per Stamp Duty u/s 50C will not render Assessment Erroneous If Sale was under SARFEASI Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Stamp-Duty-Assessment-SARFEASI-Act-ITAT-taxscan.jpeg "Failure to comply with Valuation as per Stamp Duty u/s 50C will not render Assessment Erroneous If Sale was under SARFEASI Act: ITAT [Read Order]")
Assessment Order passed after making necessary Inquiries can’t be 'Erroneous': ITAT quashes Revisional Order [Read Order]
While quashing the revisional order passed by PCIT the Rajkot bench of the Income Tax Appellate Tribunal held that the assessment order passed after making necessary inquiries can’t be “Erroneous’. ...
![Assessment Order passed after making necessary Inquiries can’t be Erroneous: ITAT quashes Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Assessment-order-ITAT-Revisional-Order-taxscan.jpeg "Assessment Order passed after making necessary Inquiries can’t be Erroneous: ITAT quashes Revisional Order [Read Order]")
![Income Tax Officials bound to follow CBDT Circular: ITAT quashes Revisional Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/07/Income-Tax-Officials-CBDT-Circular-ITAT-Revisional-Order-Taxscan.jpeg "Income Tax Officials bound to follow CBDT Circular: ITAT quashes Revisional Order [Read Order]")
AO properly Verified Documents Adduced by Assessee: ITAT sets aside Revision proceedings u/s 263 [Read Order]
The Mumbai Bench of Income Tax Appellate Tribunal has held that Assessing Officer properly verified documents adduced by assessee and set asides revision proceedings u/s 263. During the course of...
![AO properly Verified Documents Adduced by Assessee: ITAT sets aside Revision proceedings u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/AO-Verified-Documents-Assessee-ITAT-Revision-proceedings-taxscan.jpg "AO properly Verified Documents Adduced by Assessee: ITAT sets aside Revision proceedings u/s 263 [Read Order]")
Property Purchased by Coparceners of HUF in their Individual Capacity is Assessable u/s 64(2)(b): ITAT upholds Revision [Read Order]
The Chennai Income Tax Appellate Tribunal (ITAT) presided by Mr. Mahavir Singh, Vice President and Mr. Manoj Kumar Aggarwal, Accountant Member has held that property purchased by coparceners of Hindu...
![Property Purchased by Coparceners of HUF in their Individual Capacity is Assessable u/s 64(2)(b): ITAT upholds Revision [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Property-Purchased-HUF-Individual-Capacity-ITAT-Taxscan.jpg "Property Purchased by Coparceners of HUF in their Individual Capacity is Assessable u/s 64(2)(b): ITAT upholds Revision [Read Order]")
Scope of Limited Scrutiny is Confined: ITAT quashes Revision since Original Assessment was initiated to Cash Deposits during Demonetization [Read Order]
Quashing a revision order passed under section 263 of the Income Tax Act, 1961, the Income Tax Appellate Tribunal (ITAT), Jaipur bench has held that the scope of limited scrutiny is confined to its...
![Scope of Limited Scrutiny is Confined: ITAT quashes Revision since Original Assessment was initiated to Cash Deposits during Demonetization [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Scrutiny-ITAT-Assessment-Cash-Deposits-Demonetization-taxscan.jpg "Scope of Limited Scrutiny is Confined: ITAT quashes Revision since Original Assessment was initiated to Cash Deposits during Demonetization [Read Order]")
Delhi HC directs to Refund Amount Adjusted towards Disputed Tax Demand prior to issuance of Setoff of Refund order u/s 245 [Read Order]
The Delhi High Court has directed to refund amount adjusted towards disputed tax demand prior to issuance of setoff of refund order u/s 245. The appellant, Kshipra Jatana filed Writ petition...
![Delhi HC directs to Refund Amount Adjusted towards Disputed Tax Demand prior to issuance of Setoff of Refund order u/s 245 [Read Order]](https://www.taxscan.in/wp-content/uploads/2022/06/Delhi-HC-Refund-Amount-Disputed-Tax-Demand-Refund-taxscan.jpg "Delhi HC directs to Refund Amount Adjusted towards Disputed Tax Demand prior to issuance of Setoff of Refund order u/s 245 [Read Order]")