![[BREAKING] “Purchases in question were not Bogus”: ITAT uses CESTAT Ruling Ratio to quash Income Tax Revision Proceedings [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Section-263-Income-Tax-Act-Vadodara-Tax-Assessment-Income-Tax-Bogus-Purchases-taxscan.jpg "[BREAKING] “Purchases in question were not Bogus”: ITAT uses CESTAT Ruling Ratio to quash Income Tax Revision Proceedings [Read Order]")
[BREAKING] “Purchases in question were not Bogus”: ITAT uses CESTAT Ruling Ratio to quash Income Tax Revision Proceedings [Read Order]
In a significant ruling, the Income Tax Appellate Tribunal ( ITAT ) quashed the revision proceedings under Section 263 of the Income Tax Act...
![No Finding by CIT(A) against Claim u/s 56(2)(viib): ITAT remands Revision Order for Re-examination of Qualification as Venture Capital [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-ITAT-Chandigarh-CIT-Against-Claim-TAXSCAN.webp "No Finding by CIT(A) against Claim u/s 56(2)(viib): ITAT remands Revision Order for Re-examination of Qualification as Venture Capital [Read Order]")
![No Error or Prejudice to Revenue Interests: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Ahmedabad-Income-Tax-Section-263-Income-Tax-Act-Income-Tax-Act-Revision-Order-taxscan.jpg "No Error or Prejudice to Revenue Interests: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]")
![PCIT’s Different Views on Unrelated Issues do not Justify Invoking S.263 in Limited Scrutiny: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/09/PCIT-Limited-Scrutiny-ITAT-taxscan.jpg "PCIT’s Different Views on Unrelated Issues do not Justify Invoking S.263 in Limited Scrutiny: ITAT [Read Order]")
![Proper Enquiry done by AO: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/Income-Tax-ITAT-ITAT-Ahmedabad-Revision-order-under-Income-Tax-TAXSCAN-1.jpg "Proper Enquiry done by AO: ITAT quashes Revision Order u/s 263 of Income Tax Act [Read Order]")
PCIT fails to Assume Jurisdiction u/s 263 as Assessment order issued in Name of Non-Existent Entity: ITAT sets aside Order [Read Order]
The two-member bench of the Income Tax Appellate Tribunal ( ITAT ) in Mumbai set aside the order, ruling that the Principal Commissioner of Income Tax ( PCIT ) failed to assume jurisdiction under...
![PCIT fails to Assume Jurisdiction u/s 263 as Assessment order issued in Name of Non-Existent Entity: ITAT sets aside Order [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/08/ITAT-PCIT-PCIT-Fails-ITAT-Sets-Jurisdiction-Assessment-order-Principal-Commissioner-of-Income-Tax-taxscan.jpg "PCIT fails to Assume Jurisdiction u/s 263 as Assessment order issued in Name of Non-Existent Entity: ITAT sets aside Order [Read Order]")
Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]
The Gujarat High Court has upheld the decision of the Income Tax Appellate Tribunal ( ITAT ) to allow income tax deduction for payment made to clear a mortgage, dismissing the appeal filed by the...
![Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/07/Income-Tax-Gujarat-High-Court-Gujarat-HC-Income-Tax-Deduction-Income-Tax-TAXSCAN.jpg "Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]")
Slump Sale under BTA would not amount to Sale of Goods under MVAT Act: Bombay HC rules in favour of Piramal Enterprises Ltd [Read Order]
In a recent case, the Bombay High Court observed that a Slump Sale under the Business Transfer Agreement ( BTA ) would not amount to the Sale of Goods under Maharashtra Value Added Tax Act, 2002 (...
![Slump Sale under BTA would not amount to Sale of Goods under MVAT Act: Bombay HC rules in favour of Piramal Enterprises Ltd [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/Bombay-High-Court-Business-Transfer-Agreement-Piramal-Enterprises-Maharashtra-Value-Added-Tax-Slump-Sale-taxscan.jpg "Slump Sale under BTA would not amount to Sale of Goods under MVAT Act: Bombay HC rules in favour of Piramal Enterprises Ltd [Read Order]")
Mere Difference of Opinion with AO not a Base to Exercise Revision Jurisdiction under Income Tax Act: ITAT [Read Order]
The Chandigarh bench of the Income Tax Appellate Tribunal ( ITAT ) has held that a mere difference in opinion with the Assessing Officer ( AO ) is not a valid base to exercise Revisionary...
![Mere Difference of Opinion with AO not a Base to Exercise Revision Jurisdiction under Income Tax Act: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/06/ITAT-Income-tax-appellate-tribunal-income-tax-act-income-tax-news-AO-TAXSCAN.jpg "Mere Difference of Opinion with AO not a Base to Exercise Revision Jurisdiction under Income Tax Act: ITAT [Read Order]")
Non-disclosure of LTCG from Sale of shares does not Affect Revenue Interest, Revisionary Proceedings deemed Illegal: Gauhati High Court [Read Order]
The Gauhati High Court ruled that the Non-disclosure of the Long Term Capital Gain from sale of shares does not affect revenue’s interest or cause any loss as it is exempted from Income Tax under...
![Non-disclosure of LTCG from Sale of shares does not Affect Revenue Interest, Revisionary Proceedings deemed Illegal: Gauhati High Court [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Gauhati-high-court-gauhati-hc-gauhati-hc-news-Sale-of-shares-Revenue-Interest-TAXSCAN.jpg "Non-disclosure of LTCG from Sale of shares does not Affect Revenue Interest, Revisionary Proceedings deemed Illegal: Gauhati High Court [Read Order]")
Madras HC dismisses WP against Revision Order, Stresses Distinction from Scrutiny Assessment Order u/s 143(3) of IT Act; Directs Pursuit of Statutory Appeal [Read Order]
The Madras High Court has upheld an order under Section 263 of the Income Tax Act, dismissing a writ petition filed against it. The court emphasised the clear distinction between the scrutinised...
![Madras HC dismisses WP against Revision Order, Stresses Distinction from Scrutiny Assessment Order u/s 143(3) of IT Act; Directs Pursuit of Statutory Appeal [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/05/Madras-HC-WP-Revision-Order-Scrutiny-Assessment-Order-IT-Act-Statutory-Appeal-taxscan.jpg "Madras HC dismisses WP against Revision Order, Stresses Distinction from Scrutiny Assessment Order u/s 143(3) of IT Act; Directs Pursuit of Statutory Appeal [Read Order]")