![S.263 of Income Tax Act Can Be Invoked Only in Cases of ‘Lack of Inquiry,’ Not Merely for Inadequate Inquiry: Madras HC Upholds AO’s Order [Read Order]](https://images.taxscan.in/h-upload/2025/08/25/500x300_2080369-income-tax-act-lack-of-inquiry-madras-hc-taxscan.webp "S.263 of Income Tax Act Can Be Invoked Only in Cases of ‘Lack of Inquiry,’ Not Merely for Inadequate Inquiry: Madras HC Upholds AO’s Order [Read Order]")
S.263 of Income Tax Act Can Be Invoked Only in Cases of ‘Lack of Inquiry,’ Not Merely for Inadequate Inquiry: Madras HC Upholds AO’s Order [Read Order]
In a recent ruling, the Madras High Court held that Section 263 of theIncome Tax Act, 1961 can be invoked only in cases of “lack of inquiry” and...
![Free Equipment from Group Companies Taxable as Perquisite u/s 28(iv): ITAT Upholds PCITs Revision u/s 263, Directs AO to Verify Returnable Basis [Read Order]](https://images.taxscan.in/h-upload/2025/08/09/250x150_2074783-group-compaies-itat-taxscan.webp "Free Equipment from Group Companies Taxable as Perquisite u/s 28(iv): ITAT Upholds PCITs Revision u/s 263, Directs AO to Verify Returnable Basis [Read Order]")
![In Absence of Concrete Material Revision u/s 263 of Income Tax Act Not Possible on Assessment Based on DVOs Valuation: Kerala HC [Read Order]](https://images.taxscan.in/h-upload/2025/07/11/250x150_2062787-kerala-hc-1.webp "In Absence of Concrete Material Revision u/s 263 of Income Tax Act Not Possible on Assessment Based on DVOs Valuation: Kerala HC [Read Order]")
![Deduction on CSR Donations u/s 80G: ITAT Quashes Revision as AO Verifies Donations to Eligible Institutions [Read Order]](https://images.taxscan.in/h-upload/2025/07/07/250x150_2060479-deduction-on-csr-donations-deduction-csr-donations-section-80g-csr-donations-taxscan.webp "Deduction on CSR Donations u/s 80G: ITAT Quashes Revision as AO Verifies Donations to Eligible Institutions [Read Order]")
![ITAT upholds invocation of revisional jurisdiction u/s 263 by PCIT: Twin Conditions of “Error” and “Prejudice to the Interest of Revenue” Satisfied [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/04/ITAT-ITAT-Mumbai-revisional-jurisdiction-under-section-263-TAXSCAN.jpg "ITAT upholds invocation of revisional jurisdiction u/s 263 by PCIT: Twin Conditions of “Error” and “Prejudice to the Interest of Revenue” Satisfied [Read Order]")
Discrepancy in Net Profit Figures: ITAT Quashes Pr. CIT’s Revision Order due to Prior AO Inquiry [Read Order]
The Hyderabad Bench of Income Tax Appellate Tribunal (ITAT) quashed the revision order passed by the Principal Commissioner of Income Tax (Pr. CIT) under Section 263, citing that the Assessing...
![Discrepancy in Net Profit Figures: ITAT Quashes Pr. CIT’s Revision Order due to Prior AO Inquiry [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-ITAT-Hyderabad-ITAT-ruling-on-AO-prior-inquiry-TAXSCAN.jpg "Discrepancy in Net Profit Figures: ITAT Quashes Pr. CIT’s Revision Order due to Prior AO Inquiry [Read Order]")
Assessment Invalid due to Defective Satisfaction Note: ITAT Sets Aside PCIT’s Revisionary Order [Read Order]
The Pune Bench of Income Tax Appellate Tribunal(ITAT) set aside the Principal Commissioner of Income Tax’s (PCIT) revisionary order under Section 263 of Income Tax Act,1961 ruling that the assessment...
![Assessment Invalid due to Defective Satisfaction Note: ITAT Sets Aside PCIT’s Revisionary Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/Assessment-Invalid-Due-Invalid-Due-to-Defective-Satisfaction-Note-Defective-Satisfaction-Note-Satisfaction-Note-ITAT-ITAT-Sets-Aside-PCITs-Revisionary-Order-taxscan.jpg "Assessment Invalid due to Defective Satisfaction Note: ITAT Sets Aside PCIT’s Revisionary Order [Read Order]")
ITAT Quashes PCIT's Revision u/s 263, Finds AO Conducted Proper Verification of Investment and ESI Payments [Read Order]
The Jaipur Bench of Income Tax Appellate Tribunal(ITAT) quashed the Principal Commissioner of Income Tax(PCIT)’s revision order under Section 263 of Income Tax Act,1961, holding that the Assessing...
![ITAT Quashes PCITs Revision u/s 263, Finds AO Conducted Proper Verification of Investment and ESI Payments [Read Order]](https://www.taxscan.in/wp-content/uploads/2025/03/ITAT-PCITs-Revision-PCITs-Revision-Section-263-AO-Conducted-Proper-Verification-Proper-Verification-of-Investment-Investment-and-ESI-Payments-ESI-Payments-taxscan.jpg "ITAT Quashes PCITs Revision u/s 263, Finds AO Conducted Proper Verification of Investment and ESI Payments [Read Order]")
![Income Tax Annual Digest 2024: ITAT Cases [Part 2]](https://www.taxscan.in/wp-content/uploads/2025/01/ITAT-Income-Tax-Income-Tax-Annual-Digest-2024-Income-Tax-Digest-2024-TAXSCAN.jpg "Income Tax Annual Digest 2024: ITAT Cases [Part 2]")
Exchange Gain can be Adjusted from Total Income by Reducing it from Block of Assets u/s 43A and ICDS: ITAT [Read Order]
The Surat Bench of the Income Tax Appellate Tribunal ( ITAT ) held that exchange gain can be adjusted from total income by reducing it from the block of assets under section 43A of the Income Tax Act...
![Exchange Gain can be Adjusted from Total Income by Reducing it from Block of Assets u/s 43A and ICDS: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Surat-Income-Tax-Appellate-Tribunal-Income-Tax-Section-43A-of-Income-Tax-Act-taxscan.jpg "Exchange Gain can be Adjusted from Total Income by Reducing it from Block of Assets u/s 43A and ICDS: ITAT [Read Order]")
ITAT invalidates PCIT's S.263 Revision Order Issued in Deceased Taxpayer's Name Due to Procedural Lapses [Read Order]
The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT ) invalidated the Principal Commissioner of Income Tax ( PCIT )'s Section 263 revision order issued in the name of a deceased taxpayer,...
![ITAT invalidates PCITs S.263 Revision Order Issued in Deceased Taxpayers Name Due to Procedural Lapses [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/12/ITAT-ITAT-Ahmedabad-ITAT-Invalidates-PCITs-Principal-Commissioner-of-Income-Tax-Income-Tax-Appellate-Tribunal-taxscan.jpg "ITAT invalidates PCITs S.263 Revision Order Issued in Deceased Taxpayers Name Due to Procedural Lapses [Read Order]")