Notification No. 12/97-Customs(N.T.) amendment adds Malur Inland Container Depot in Karnataka to authorized locations for import unloading and export ...
Page of 4826
Press 'Enter' after typing page number.
9801 to 9820 of 96510 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
ITAT allowed the assessee's appeal and quashed the revisional order passed under s.263. The Tribunal held that the CIT failed to demonstrate any substantive material showing the impugned receipts were not professional income or that they fell within s.69/69A/69B; accordingly there was no justification to invoke s.115BBE. The AO had issued a s.142(1) questionnaire, the assessee furnished specific replies, and the AO accepted the claim and taxed the receipts at the normal rate. Mere absence of extended discussion in the assessment order did not render the order erroneous or lead to s.263 action. The revisional order was therefore set aside.
ITAT allowed the assessee's appeal and quashed the revisional order passed under s.263. The Tribunal held that the CIT failed to demonstrate any substantive material showing the impugned receipts were not professional income or that they fell within s.69/69A/69B; accordingly there was no justification to invoke s.115BBE. The AO had issued a s.142(1) questionnaire, the assessee furnished specific replies, and the AO accepted the claim and taxed the receipts at the normal rate. Mere absence of extended discussion in the assessment order did not render the order erroneous or lead to s.263 action. The revisional order was therefore set aside.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4826 
Join Channel 
