S. 263 : Commissioner-Revision of orders prejudicial to revenue-Provision for expenses-Method of accounting-Issue was examined by the Assessing Officer-Revision is not valid. [S. 37, 143(3) 145]
S. U. Enterprise v. PCIT (2022)100 ITR 27 (SN)(Surat) (Trib)
Digest of case laws
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This Digest of case laws is prepared by KSA Legal and AIFTP from judgements reported in BCAJ, CTR, DTR, ITD, ITR, ITR (Trib), Chamber's Journal, SOT, Taxman, TTJ, BCAJ, ACAJ, www.itatonline.org and other journals
Click here to download the pdf versions of the Digest of case laws S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash deposits-Demonetisation period-Withdrawal of appeal and issue settled under Direct Tax Vivad Se Vishwas Act, 2020-Revision is not valid. [S. 68, 143(2) Direct Tax Vivad Se Vishwas Act, 2020, S. 5(3), 8]
Pavan Kandkur v. PCIT (2022)100 ITR 47 (SN)(Bang) (Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Short term capital gain-Accommodation entries-Penny stock-Plausible view-Revision is not valid [S. 45]
Mohsin Zulfikar Koradia v. PCIT (2022)100 ITR 25 (SN)(Ahd) (Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Joint ownership-Revision is held to be not valid. [S. 54F]
Renu Poddar (Smt.) v. PCIT (2022) 100 ITR 602 (Jaipur)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Real estate business-Interest debited to profit and loss account included in capital work-in-progress-Project completion method [S. 145]
Rushabhdev Infra Project Pvt. Ltd. v. PCIT (2022)100 ITR 625 (Ahd)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Depreciation-Asset financing-Operating lease and Finance Lease-Entitle to depreciation-Excess interest-Rule of consistency-Revision was quashed. [S. 2(28A), 32]
Poonawalla Fincorp Ltd. v. PCIT (2022)100 ITR 151 (Kol) (Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Assessing Officer applying his mind and taking possible view-Revision order was quashed. [S.56(2)(vii), 92E, 92F]
Kalyan Buildmart Pvt. Ltd. v. PCIT (2022)100 ITR 642 ((Jaipur) (Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Long-term capital gains-Assessing Officer applied his mind in the course of assessment proceedings-Revision was not valid. [S. 45, 143(3)]
Hindustan Sales Industrial Corporation v. PCIT (2022)100 ITR 126 (Jaipur) (Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue Speculation business-Loss-Set Off-Issue decided by Tribunal in Assessment Year 2013-14-Cannot be taken up by Principal Commissioner in revision for the Assessment Year 2014-15. [S. 73]
F. G. Investments Pvt. Ltd. v. PCIT (2022)100 ITR 17 (Cochin) (Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Transfer-Joint Development agreement deed-Deed stamped at fixed value and not regarded as transfer or conveyance of property-Mere registration of agreement and payment of stamp duty cannot attract provision of section 43CA-Revision order was quashed [S. 2(47) 43CA, 50C].
Emporis Properties Pvt. Ltd. v. PCIT (2022) 100 ITR 1 (Kol)(Trib)