![AO’s Income Tax Assessment has to be Erroneous and Prejudicial to Revenue to warrant S.263 Proceedings: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/11/ITAT-ITAT-Cochin-Income-Tax-Income-Tax-Appellate-Tribunal-Income-Tax-Appeal-TAXSCAN.jpeg "AO’s Income Tax Assessment has to be Erroneous and Prejudicial to Revenue to warrant S.263 Proceedings: ITAT [Read Order]")
AO’s Income Tax Assessment has to be Erroneous and Prejudicial to Revenue to warrant S.263 Proceedings: ITAT [Read Order]
The Cochin Bench of the Income Tax Appellate Tribunal ( ITAT ) while adjudging an Income Tax Appeal held that an Income Tax Assessment by the...
![Revisionary Jurisdiction u/s 263 Not Invocable Solely Based on PCITs Differing View: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-Income-Tax-Income-Tax-Appellate-Tribunal-Revision-Order-TAXSCAN.jpg "Revisionary Jurisdiction u/s 263 Not Invocable Solely Based on PCITs Differing View: ITAT [Read Order]")
![Income from Ancillary Activities to Primary Operations: ITAT upholds Revision Order allowing Alternate Claim of Co-Op Society u/s 80P(2)(e) [Read Order]](https://www.taxscan.in/wp-content/uploads/2024/10/ITAT-ITAT-Ahmedabad-ITAT-upholds-Revision-Order-Ancillary-Activities-allowing-Alternate-Claim-Alternate-Claim-Alternate-Claim-of-Co-Op-Society-taxscan.jpg "Income from Ancillary Activities to Primary Operations: ITAT upholds Revision Order allowing Alternate Claim of Co-Op Society u/s 80P(2)(e) [Read Order]")
![[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]")
![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]
In a recent ruling, the Ahmedabad bench of the Income Tax Appellate Tribunal ( ITAT ) quashed the revision order passed under Section 263 of the Income Tax Act of 1961 as the bench found no error or...
![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]
The Ahmedabad Bench of the Income Tax Appellate Tribunal ( ITAT ) ruled that the Principal Commissioner of Income Tax ( PCIT ) cannot invoke Section 263 of the Income Tax Act, 1961, simply because it...
![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]")