| Question And Answer | |
|---|---|
| Subject: | Wrong assessment order u/s 148 |
| Category: | Income-Tax |
| Querist: | Santosh |
| Answered by: | Research Team |
| Tags: | appeal, appeal before first appellate authority, Revision, Wrong assessment |
| Date: | April 2, 2024 |
Dear sir , I have received wrong demand order for selling a property in 2015 which actually I have purchased and loan is availed .
In this case what need to be done ?
264 or CIT Appeal
It may be desirable to file an application under section 264 of the Income tax Act . In case the revision application is rejected the assessee can file writ before the High Court . When an revision application is filed the CIT is bound to pass the order within specified time limit . There is no time limit is prescribed for passing the order to be passed by CIT(A) . In the revision application the assessee should also pray for stay of recovery . When the revision application is pending the Revenue cannot recover the amount from the assessee. Scope of revision power is explained in number of cases , one may refer , Diwaker Tripathi v. PCIT (2023) 295 Taxman 532 (Bom.)(HC), Vijay Gupta v.CIT ( 2016) 238 Taxman 505/ 396 ITR 643 ( Delhi)( HC)