Market Access Support grants for export promotion events via Trade Connect ePlatform; strict eligibility, cost-sharing, audits, and recovery/debarment...
Page of 4824
Press 'Enter' after typing page number.
7701 to 7720 of 96463 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 revisionary order passed u/s 263. It held that the assessment u/s 153A had been framed after obtaining mandatory approval u/s 153D and pursuant to specific queries raised by the AO on sale of assets below guideline value and possible application of s. 43CA. The assessee had duly responded, and the AO took a conscious view after inquiry. ITAT reaffirmed the distinction between "lack of inquiry" and "inadequate inquiry," holding that s. 263 can be invoked only in cases of lack of inquiry. Mere higher guideline value cannot, by itself, render the assessment erroneous and prejudicial to Revenue.
ITAT allowed the assessee's appeal and quashed the revisionary order passed u/s 263. It held that the assessment u/s 153A had been framed after obtaining mandatory approval u/s 153D and pursuant to specific queries raised by the AO on sale of assets below guideline value and possible application of s. 43CA. The assessee had duly responded, and the AO took a conscious view after inquiry. ITAT reaffirmed the distinction between "lack of inquiry" and "inadequate inquiry," holding that s. 263 can be invoked only in cases of lack of inquiry. Mere higher guideline value cannot, by itself, render the assessment erroneous and prejudicial to Revenue.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4824 
Join Channel 
