During proceedings for grant of registration under section 80G, assessee filed statement of accounts showing certain income before grant of exemption under sections 11 and 12.\u00a0 Assessee was required to file return under section 139(4A).\u00a0\u00a0 Assessee, did not submit its return under section 139(4A) stating that its accounts have been submitted to ISKON, Mumbai, for consolidation purpose.\u00a0 Assessing Officer initiated reassessment proceedings in response to which assessee submitted its return claiming exemption of income under section 11.\u00a0 Assessing Officer after making due enquiries found claim for exemption of income as correct and, thus, reassessment proceedings were dropped.\u00a0 DIT(E)\u00a0 passed an order under section 263 setting aside assessment and directing Assessing Officer to pass a fresh assessment order. Tribunal held that the\u00a0 Assessing Officer had allowed assessee’s claim for exemption of income under section 11 after making due enquiries\u00a0 and\u00a0 DIT(E) had also recorded in his revisional order that assessee had submitted its accounts to ISKON, Mumbai, for consolidation and nothing wrong was found in same. Accordingly the revision order was quashed.\u00a0 Dismissing the appeal of the revenue High Court affirmed the order of the Tribunal. (AY.\u00a0 1997-98)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 263 : Commissioner-Revision of orders prejudicial to revenue-Made enquiries and dropped reassessment proceedings-Possible view-Revision is held to be not valid. [S. 11, 12A, 80G, 139(4A), 147, 148] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-19438","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-53w","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/19438","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=19438"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/19438\/revisions"}],"predecessor-version":[{"id":19439,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/19438\/revisions\/19439"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=19438"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=19438"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=19438"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}