Charitable trust income application permits verified capital expenditure but rejects deferred pre-operative claims and requires reconsideration of con...
Reinsurance premium deductions require established regulatory breaches, while independently acquired software qualifies within the computer depreciati...
Rectification of mistake remains limited to self-evident record errors, preventing merits review through miscellaneous applications and preserving fin...
Tender creditworthiness conditions may extend to de facto Promoter Directors, with post-participation challenges generally barred absent arbitrariness...
Corporate representation in PMLA summons proceedings permitted through an authorised signatory, subject to directors' continuing cooperation and atten...
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A revision under section 263 was sustained where the Assessing Officer had not made the enquiry and verification the scrutiny assessment required. The Tribunal noted that only generalized notices had been issued, with no real examination, follow-up enquiry or application of mind on the selected scrutiny issues, including expense claims, related-party payments and tax deduction defaults. It applied the principle that merely calling for details and filing them on record is not enough to constitute enquiry, and that Explanation 2(a) to section 263 applies when no proper view is formed after due examination. The assessee's contention that disclosure of details barred revision was rejected.
A revision under section 263 was sustained where the Assessing Officer had not made the enquiry and verification the scrutiny assessment required. The Tribunal noted that only generalized notices had been issued, with no real examination, follow-up enquiry or application of mind on the selected scrutiny issues, including expense claims, related-party payments and tax deduction defaults. It applied the principle that merely calling for details and filing them on record is not enough to constitute enquiry, and that Explanation 2(a) to section 263 applies when no proper view is formed after due examination. The assessee's contention that disclosure of details barred revision was rejected.
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