Read all Latest Updates on and about Section 263 of the Income Tax Act

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Section 263 of the...

Revisional Jurisdiction can’t be exercised on an Issue not covered in Re-Assessment: ITAT [Read Order]

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the Commissioner of Income Tax cannot invoke revisional jurisdiction under...

ITAT confirms Assessment against District Judges as there is No Provision in IT Rules Exempting...

Capital Gain Exemption allowed by AO on the basis of Certificate from Tahasildar can’t be treated as...

Tribunal can’t Review its own decisions u/s 254(2) unless there is a Mistake apparent from Records:...

Commissioner cannot invoke his Revisionary Jurisdiction If the matter has been already heard by CIT...

Revisional Assessment u/s 263 not valid without hearing Contentions of Assesse: ITAT Delhi [Read Order]

Recently, the Income Tax Appellate Tribunal (ITAT) Delhi passed an order which will ensure in future that the Principal Commissioners of income tax do not miss use the provisions of revision of...

Once TDS Certificate is issued in the name of the Individual, Firm can’t claim Refund: ITAT [Read Order]

The Income Tax Appellate Tribunal in its recent order ruled that firm cannot claim refund under the income Tax Act when TDS certificate is issued in the name of the partner of the Firm. The...

Revisional Order without hearing Assessees’ Submission is Invalid: Delhi HC [Read Order]

The Delhi High Court division bench comprising of Justice S. Ravindra Bhat and Justice Sanjeev Sachdeva recently ruled that revisional order under Section 263 of the Income Tax Act, 1961 cannot be...

Non-Imposition of Penalty in Assessment Order Constitute Error causing Prejudice to the Interest of Revenue: ITAT Upholds Revision [Read Order]

While upholding an order of revision, the Income Tax Appellate Tribunal, Kolkata bench recently held that non-initiation of penalty proceedings in the order of assessment would amount to error causing...

Revisionary Proceedings based on Letter Received from ACIT(TDS) is Invalid: ITAT Quashes Assessment against Vodafone [Read Order]

Granting relief to Vodafone, the ITAT Delhi bench ruled that revisionary proceedings under section 263 of the Income Tax Act, 2017 cannot be made on the basis of a letter received from Assistant...

Income Tax Officer has No Power to Exercise Revisional Jurisdiction: Allahabad HC [Read Judgment]

The Allahabad High Court has ruled that the revisional jurisdiction cannot be exercised by the Income Tax Officer under the provisions of section 263 of the Income Tax Act, 1961. A division bench of...

ITAT dismisses PwC’s Claim for Expenditure worth 10.63 Crores [Read Order]

A division bench of the Kolkata ITAT, last week dismissed an appeal filed by a Big Four Firm, Pricewaterhouse Coopers Pvt. Ltd wherein the Tribunal confirmed a revision order denying a claim for...

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