https://www.taxtmi.com/caselaws?id=299846 The Appellate Tribunal upheld all impugned orders in a case involving the correctness of orders passed by Commissioners of Income-tax under section 263 of the Income-tax Act, 1961. The Tribunal affirmed the empowerment of the Assessing Officer to examine or make additions on account of share capital receipts post-amendment. It also validated the revision by the CIT due to the AO's failure to conclude an inquiry adequately. The Tribunal deemed notices under section 263 properly served, upheld the limitation period for passing orders, and recognized the territorial jurisdiction of the CIT. Orders passed after amalgamation, on a non-working day, and without a signed notice were also deemed valid. Refusal to accept written submissions by the assessee was considered an irregularity, while the CIT's authority to revise orders under section 147 despite ongoing investigations was affirmed. As a result, all appeals were dismissed. en-us Mon, 10 Aug 2015 00:00:00 +0530 Sat, 01 Jan 2022 08:53:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299846 The Appellate Tribunal upheld all impugned orders in a case involving the correctness of orders passed by Commissioners of Income-tax under section 263 of the Income-tax Act, 1961. The Tribunal affirmed the empowerment of the Assessing Officer to examine or make additions on account of share capital receipts post-amendment. It also validated the revision by the CIT due to the AO's failure to conclude an inquiry adequately. The Tribunal deemed notices under section 263 properly served, upheld the limitation period for passing orders, and recognized the territorial jurisdiction of the CIT. Orders passed after amalgamation, on a non-working day, and without a signed notice were also deemed valid. Refusal to accept written submissions by the assessee was considered an irregularity, while the CIT's authority to revise orders under section 147 despite ongoing investigations was affirmed. As a result, all appeals were dismissed. Case-Laws Income Tax Mon, 10 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299846