https://www.taxtmi.com/caselaws?id=461789 The SC/Tribunal addressed revisionary powers under section 263 of the Income Tax Act regarding share capital receipts. The court upheld the CIT's jurisdiction to revise assessment orders where AOs conducted inadequate enquiries, particularly for share capital receipts before 2012. The ruling emphasized that insufficient investigation by AOs justifies CIT intervention, and procedural requirements like notice service can be flexibly interpreted. All challenged revision orders were ultimately sustained. en-us Mon, 10 Aug 2015 00:00:00 +0530 Mon, 28 Apr 2025 17:52:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461789 The SC/Tribunal addressed revisionary powers under section 263 of the Income Tax Act regarding share capital receipts. The court upheld the CIT's jurisdiction to revise assessment orders where AOs conducted inadequate enquiries, particularly for share capital receipts before 2012. The ruling emphasized that insufficient investigation by AOs justifies CIT intervention, and procedural requirements like notice service can be flexibly interpreted. All challenged revision orders were ultimately sustained. Case-Laws Income Tax Mon, 10 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461789