S. 263 : Commissioner-Revision of orders prejudicial to revenue-Proper enquiry was conducted in the original assessment proceedings-Merely because the CIT does not feel satisfied with the conclusion cannot be the basis for revision-Order of revision was quashed [S. 54, 54F, 143(3)]
Shanti Lal Deora v. ACIT (2022) 220 TTJ 251 (Jodhpur)(Trib)
Digest of case laws
Online digest of latest case laws
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-Family settlement-Nominal consideration-Purchase and sale deed was filed in the course of assessment proceedings-Revision is held to be not valid [S. 45, 50C, 143(3)]
Shailendra Jhanjhari Legal Heir of Dilip Kumar Jhanjhari v. PCIT (2022) 218 TTJ 33 (UO) (Indore)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Reassessment-Difference between the cash flow statement and balance sheet-Failure on the part of the AO to examine the same-Revision order is justified. [S. 143(3), 147, 148]
L. A. Development v. CIT (2022) 215 DTR 153 /218 TTJ 386 / 142 taxmann.com 280 (Cuttack)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Reassessment proceedings dropped-Revision is held to be not valid [S. 45, 143(3), 147, 148]
Kadeer Khan v. PCIT (2022) 215 DTR 369 / 218 TTJ 732 (Jabalpur)(Trib) Shabana Khan v.PCIT (2022) 215 DTR 369 / 218 TTJ 732 (Jabalpur)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Bad-debt-Provision for bad and doubtful debts-Order was passed after proper application of mind-Revision is held to be not valid [S. 36(1)(viia), R, 6ABA]
Jila Sahkari Kendriya Bank Mayaadit v. PCIT (2022) 216 DTR 49 /218 TTJ 1005 (Jabalpur)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Amalgamation-Non-existing company-Not filed the details of effective date of transfer-Assessing Officer was not aware of merger-Revision is held to be valid-: Capital gains-Shifting of industrial undertaking from urban area. [S. 54G]
IRIS Engineering Industries (P) Ltd. v. Dy. CIT (2022) 216 DTR 255 / 218 TTJ 575 (Chennai)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Capital gains-Investment in a residential house-Conducted detailed enquiry-Revision is not valid.[S. 54F, 142(1) 143(3)]
Deepak Kr. Singh v. PCIT (2022) 218 TTJ 849 (Pat)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Deposit of cash in bank-Explained the source-Direction was modified.
Gajraj Minig (P) Ltd. v. PCIT (2022) 220 TTJ 1(UO)(Jabalpur)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Sale of plots-Capital gains-Business income-Order was passed considering the evidences produced in the course of assessment proceedings-Revision order was quashed [S. 28(i),45, 143(3)]
Dnyaneshwar Pandit Mahajan v. PCIT (2022) 214 DTR 449 / 218 TTJ 521 (Pune)(Trib)S. 263 : Commissioner-Revision of orders prejudicial to revenue-Failure to make inquiries or verification-Revision is justified. [S.800JJA, 143(3)]
Terrier Security Services India P. Ltd. v. PCIT (2022) 98 ITR 76 (SN)(Bang) (Trib)