Search Results for "Section 263 revision"

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Supreme Court Allows Revenue in Income Tax Act Limitation Dispute Over Revision Order. The Court Held That the Limitation Period Under Section 263(2) is Based on the Date the Order is 'Made', Not 'Received' by the Assessee, Interpreting the Statutory Language Strictly.

The Supreme Court of India heard a civil appeal filed by the Commissioner of Income Tax, Chennai, against Mohammed Meeran Shahul Hameed, concerning th...

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Bombay High Court Dismisses Revenue's Appeal in Income Tax Revision Case for Lack of Proper Inquiry. Commissioner's order under Section 263 set aside as no inquiry was conducted before passing the revision order.

The appeal by the Revenue under Section 260A of the Income Tax Act, 1961, challenged the order of the Income Tax Appellate Tribunal which had set asid...

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Bombay High Court Allows Probate Petition for Will Executed by NRI in Ecuador. Will executed abroad by Non-Resident Indian held valid under Section 63 of Indian Succession Act, 1925, and probate granted to executor in Mumbai.

The petitioner, Sarwan Kumar Jhabarmal Choudhary, filed a testamentary petition (L) No. 6300 of 2024 in the Bombay High Court seeking probate of the L...

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Supreme Court Dismisses Revenue's Appeal in Income Tax Act Case Upholding Revisional Jurisdiction. Commissioner Validly Set Aside Assessment Order as Payment to Shareholders Was Not 'Cost of Improvement' Under Capital Gains Computation Under Sections 48 and 263 of Income Tax Act, 1961.

The dispute arose from an income tax assessment concerning the sale of a property named 'Paville House' by the respondent assessee, a company engaged ...

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Bombay High Court Dismisses Appeal by MOIL Limited Against Revision Under Section 263 for CSR Claim. Commissioner Justified in Remanding CSR Expenditure for Proper Inquiry as Assessment Order Was Erroneous and Prejudicial to Revenue.

The appellant-assessee, MOIL Limited (formerly Manganese Ore India Limited), a public sector undertaking wholly owned by the Government of India, is e...

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Bombay High Court Dismisses Revenue's Appeals in LIC Housing Finance Ltd. Tax Case — Tribunal's Order Quashing Revision Under Section 263 Upheld. Two Views Possible on Applicability of Section 36(1)(viii) Read with Section 41(4A) of Income Tax Act, 1961.

The Revenue filed four appeals under Section 260A of the Income Tax Act, 1961 against a common order of the Income Tax Appellate Tribunal (ITAT) dated...