https://www.taxtmi.com/caselaws?id=218564 A revision under section 263 directing disallowance of privilege fee, special privilege fee and sports privilege fee was held to require reconsideration because later amendments to the Andhra Pradesh Excise law and the Andhra Pradesh (Regulation of Trade in Indian Made Foreign Liquor, Foreign Liquor) Act, 1993, including sections 4A, 4B and 4C inserted on 16-04-2012, were material to the character and tax treatment of the payments. The earlier revisionary order had proceeded on the basis that the amounts were mere appropriation of profit, but that issue had to be examined in light of the amended legal position. The section 263 order was set aside and the matter remitted for fresh decision after hearing the assessee. en-us Mon, 30 Jul 2012 00:00:00 +0530 Fri, 16 Nov 2012 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=218564 A revision under section 263 directing disallowance of privilege fee, special privilege fee and sports privilege fee was held to require reconsideration because later amendments to the Andhra Pradesh Excise law and the Andhra Pradesh (Regulation of Trade in Indian Made Foreign Liquor, Foreign Liquor) Act, 1993, including sections 4A, 4B and 4C inserted on 16-04-2012, were material to the character and tax treatment of the payments. The earlier revisionary order had proceeded on the basis that the amounts were mere appropriation of profit, but that issue had to be examined in light of the amended legal position. The section 263 order was set aside and the matter remitted for fresh decision after hearing the assessee. Case-Laws Income Tax Mon, 30 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=218564