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
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S. 263 : Commissioner-Revision of orders prejudicial to revenue-Best judgement assessment-Failure to serve notice under 143(2)-Invalid assessment cannot be subject matter of revision.[S. 143(2), 144].
A.K. Santhosh v. Dy. CIT (2023)101 ITR 581 (Cochin) (Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Business expenditure-Payment in cash in excess of prescribed limit-No dispute as to genuineness of transaction-Assessee taking loan from family members and making payment to sellers of land in cash-Disallowance not attracted to cash transaction for support to family members in immediate business needs-AO did not initiate penalty proceedings after due consideration-Order not prejudicial to revenue-Revision not justified. [S. 40A(3), 44AD, 269SS, 271D]
Raghuveer Singh v. PCIT (2023)101 ITR 306 (Jaipur) (Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Cash deposits during demonetisation-AO raised detailed questions and assessee filed responses-AO applied mind to facts-Order of revision quashed.
Gurcharan Singh v. PCIT (2023)101 ITR 539 (Chd) (Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital Gains-Exemption-Assessee given one more opportunity-Order of PCIT set aside-Matter remanded-Assessee to furnish all information. [S. 54]
Kanta Chandak (Smt.) v. ITO (2023)101 ITR 6 (Jodhpur) (Trib) Mohan Lal Chandak v. ITO (2023)101 ITR 6 (Jodhpur) (Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital or Revenue expenditure-Consumables revenue expenditure allowable in the year in which put in line of production-Allowance in previous years not erroneous-AO taking sustainable view after enquiry-Revision not warranted. [S. 37(1)]
SI Group India P. Ltd. v. Asst. CIT (LTU) (2023)101 ITR 70 (SN)(Mum) (Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Possible view taken by A.O. after pursuing all the evidences-In line with view taken by Tribunal-Revision not warranted. [S.2(47)(v), 54F, 143(3), Transfer of Property Act, 1882, S. 53A]
Prerak Goel v. PCIT (2023)101 ITR 30 (SN)(Mum) (Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Not following the order of Tribunal-Revision proposed by PCIT held in favour of assessee in earlier years-Weightage to tribunal order not given-Against fundamental Principles of judicial discipline-Revision not sustainable.[S. 143(3)]
Parag Prakash Doshi v. PCIT (2023) 101 ITR 42 (SN) (Ahd.)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-AO calling for details of advertisement and sales promotion during assessment-Possible view taken after going through evidences-A.O. order not erroneous-PCIT not justified-Revision not warranted.[S. 143(3)]
Mylan Pharmaceuticals Pvt. Ltd. v. ITO (2023) 101 ITR 26 (SN) (Hyd.)(Trib.)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Failure to verify wages expenditure-Failure to deduct tax at on payments-Casual labour accepted without verification-AO accepted certificates filed by assessee without recording reasons-Revision justified. [S. 37(1), 40 (a) (ia), 143(3)]
M.K.S. Engineering Co. Pvt. Ltd. v. Pr. CIT (2023) 101 ITR 65 (SN) (Jabalpur) (Trib)
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Failure of AO to inquire loss on disposal of assets/expenditure-A.O. duty bound to disallow expenditure which is not of revenue expenditure in P & L account-Revision Justified.[S. 143(3)]
Bombay Transport Co-Operative Consumer Society Ltd. v. ITO (2023) 101 ITR 72 (SN) (Mum.)(Trib.)