Income Tax Dept warns public against cash dealings of Rs 2 lakh or more saying that the receiver of the amount will have to cough up an equal amount as penalty.

CIT can't make section 263 revision merely because he wasn’t satisfied with the view taken by AO

Where before completing assessment under section 143(3) an enquiry is conducted by Assessing Officer and he is satisfied with a reply given on a query raised, then Commissioner cannot intervene through revision for coming to a conclusion that assessment order passed by Assessing Officer was erroneous and prejudicial to interests of revenue for lack of or inadequate enquiry.

Refer:[2018] 89 taxmann.com 171 (Kolkata - Trib.)

Share This!



No comments:

Post a Comment