Condonation of Delay denied: communication lapses and corporate restructuring found insufficient; prolonged inaction and lack of bona fides led to ref...
Export Support intervention INSIGHT launched to provide non financial capacity building, trade intelligence and pilot support with defined funding and...
Page of 4816
Press 'Enter' after typing page number.
6061 to 6080 of 96301 Results
❮
❯
❯❯
0 / 200
Expand Note
Add to Folder
No Folders have been created
+
Are you sure you want to delete "My most important" ?
Revision under section 263 was examined on whether the AO failed to make requisite enquiries or made inadequate enquiries; the tribunal found the AO had verified seized materials, recorded the assessee's statement and considered explanations, so the basis for revisional jurisdiction was absent and the PCIT's order could not be sustained. The requirement that a revisional order be founded on objective material and specific findings, not mere subjective dissatisfaction or the brevity of the AO's order, was emphasized; consequently the revisional action was quashed and the appeal allowed.
Revision under section 263 was examined on whether the AO failed to make requisite enquiries or made inadequate enquiries; the tribunal found the AO had verified seized materials, recorded the assessee's statement and considered explanations, so the basis for revisional jurisdiction was absent and the PCIT's order could not be sustained. The requirement that a revisional order be founded on objective material and specific findings, not mere subjective dissatisfaction or the brevity of the AO's order, was emphasized; consequently the revisional action was quashed and the appeal allowed.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
of 4816 
Join Channel 
