Commissioner has wide powers to help taxpayers to set right any error in return no matter missing any deadlines
The High Court in (2023] 459 ITR 369 (Bom) held that since section 264 uses the expression ”any order”, it…
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Today's
Wrong reopening ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Yesterday's In no way the AO has power to question arm’s length pricing in unrelated party transactions ......Read More
Limitation
Issues which are not subject matter of the reassessment, do not merge in the reassessment order. It is because of…
......Read MoreNeedless interference in assessment
The Commissioner has powers under the income tax act to revise an assessment order should there be any erroneous application…
......Read MoreAudit objection driving revision
Section 263 provide powers to the Commissioner to modify, enhance, cancel or direct fresh assessment in a situation where he…
......Read MorePower to correct errors committed by assessee
Often taxpayers omit or miss out reliefs or benefits available to them under the law and sometimes they even miss…
......Read MoreWhat is not erroneous
Income tax Commissioner before exercising power of revision has to be satisfied of twin conditions, namely, (i) the order of…
......Read MoreRevision u/s 263 is order specific to the subject
When it comes to period of limitation it is the order specific to the matter under revision. The limitation would…
......Read MoreUnanswered questions may lead to revision action
Merely asking a question and not carrying it further can be a case of non-enquiry requiring issue of notice u/s…
......Read MoreAppeal/revision Missing claims in ITR-Remedy with PCIT
In [2021] 436 ITR 262 (Guj) the assessee , a banker at the time of filing ITR held the impression…
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