S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share capital issue of shares at premium-Addition on presumption-Revision was held to be not valid. [S. 56(2)(viib), R. 11UA(2)(b)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Share capital issue of shares at premium-Addition on presumption-Revision was held to be not valid. [S. 56(2)(viib), R. 11UA(2)(b)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Valuation report from Merchant Banker-Fair market value higher than price at which shares issued-Order not erroneous. [S. 56(2)(viib), R. 11UA(2)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Revision based on proposal of Assessing Officer recommending a revision is illegal. [S. 143(3)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Loss on trading of shares-Possible view-Revision is not valid-Audit objection-PCIT independently applying mind-Objection is not tenable. [S. 143(3)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Reassessment-Revision in respect of issue not forming subject matter of reassessment-Revision order is barred by limitation. [S. 143(3), 147, 263 (2)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Lack of enquiry-Cash deposits-Assessing Officer taking a reasonable view-Revision was held to be not valid. [S. 143(3)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Limitation-No addition was made on the ground mentioned in recorded reasons-Limitation to be reckoned from date of original assessment. [S. 12AA(1)(b), 147, 148]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Repeal and savings Exemption was granted under Income-tax Act, 1922-Assessee must apply for registration under Income-tax Act 1962 to avail of exemption-Revision was held to be justified. [S. 11, 12, 12A, 12AA, 13, 297(2)(k), Indian Income-tax Act, 1922, S.4(3)(i)]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Order was passed on 29-9-2015-Period of limitation for revision till 31-3-2018-Date of dispatch of order to postal authority on 4-4-2018-Barred by limitation-Date of dispatch should be taken as date of order. [S. 54, 54F]
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash credits-Share application money-Identity, creditworthiness of shareholders and genuineness of transactions established-Revision was held to be invalid. [S. 56(2)(viib), 68]