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Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Jagati Publications Ltd. v. ACIT (2022) 215 TTJ 818 / 210 DTR 137 (Hyd)(Trib) Editorial : Special Bench constituted was quashed Jagati Publications Ltd. v. President ITAT (2015) 377 ITR 31 / 279 CTR 271 / 124 DTR 131 (Bom)(HC). SLP of Revenue is pending and No stay of proceedings. (Diary No. 42483 / 2015 filed on 18th December, 2015. Case No SLP (c) No. 005296 /2016 Registered on 19th Feb, 2016, SLP (C) No. 001974 /2016, Registered on 29th Jan. 2016.

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share capital-Cash credits-Evidences in the form of confirmation letters were produced in the original assessment proceedings-Additional evidence by Revenue-Charge sheet in criminal proceedings-Not relevant to issue-Additional evidence is not admitted-Revision order was quashed. [S. 2(24), 28(iv), 56(2)(vii)(b), 68, 254(1), ITAT R. 29, CrPC, S. 161, 164]

Sauria Agarwal v. PCIT (2022) 215 TTJ 523 / 211 DTR 63 (Cuttack)(Trib)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Repayment of loan-Cash deposited in the bank-Examined by the Assessing Officer-Revision order was quashed. [S. 269T]

Dinesh Kumar Singh v. PCIT (2022) 220 TTJ 545/ (2023) 221 DTR 409 (All)(Trib)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Licence fee-Disallowance on ad-hoc basis-Non application of mind-Revision order was quashed. [S. 37(1)]

Deepak (HUF) v. PCIT (2022) 220 TTJ 447 (Chd)(Trib) Sunita Gupta (Smt) v. PCIT (2022) 220 TTJ 447 (Chd)(Trib) Rajat Gupta v. PCIT (2022) 220 TTJ 447 (Chd)(Trib) Vishal Gupta (HUF) v. PCIT (2022) 220 TTJ 447 (Chd)(Trib)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Derivative transactions-Fresh material/data received from NSEL-No specific finding recorded by the PCIT-Revision order was quashed. [S. 133(6) 143(2)]

Daljit Singh Bassi v. PCIT (2022) 220 TTJ 5 (UO)(Chd)(Trib)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Investment in a residential house-Proper enquire was made by the Assessing Officer, purchase deed and other documents were filed-Revision is not valid [S. 54F, 143(3)]

Bharat Tirtha Rice Mill v. PCIT (2022) 220 TTJ 1057 (Kol)(Trib)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash deposit-Demonetisation-Specific query was raised in the original assessment proceedings-CIT failed to give any plausible reason as to why he does not agree with the opinion of the AO-Revision order was quashed. [S. 143(3)]

Gajraj Mining (P) Ltd v.PCIT (2022) 220 TTJ 1 (UO)(Jabalpur)(Trib)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Heavy cash deposited in the bank-Revision order was affirmed-Direction was modified to consider only cash deposited in the bank [S. 143(3)]

KBB Nuts (P) Ltd. v. PCIT (2022) 220 TTJ 716 (Amritsar)(Trib)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-AO made an extensive, elaborate and necessary enquiry with a view to find out whether the assessee fulfils the conditions mentioned in s. 80-IB or not-Revision is not valid-Commissioner cannot revise the order merely on the proposal sent by the Assessing Officer. [S.80IB (11A]

Saifee Byjhani Upliftment Trust v. CIT (E) (2022) 216 DTR 23 / 220 TTJ 585 (Mum)(Trib)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Corpus donation and loan-Received from entities controlled by the same authority as the assesse-Voluntary contribution made with specific direction may be excluded-Revision was up held with direction. [S. 11(1)(d)]

Rita Goyal v. PCIT (2022) 220 TTJ 17 (Jodhpur)(Trib)(UO)

S. 263 : Commissioner-Revision of orders prejudicial to revenue-Transaction of two properties-Capital gains-Remand proceedings the Assessing Officer informed that the transactions are reported-Revision order was quashed. [S. 45]