Thursday, October 28, 2021

CIT, while revising a particular order, can't revise assessment order of another AY without pointing out any error: ITAT

INCOME TAX : Where Commissioner invoked section 263 by finding fault with assessment order passed for earlier assessment year 2009-10, since he was revising assessment order passed for assessment year 2010-11, and he had not actually pointed out any error in said assessment order, order passed by Commissioner could not be sustained

from www.taxmann.com Latest Case Laws https://ift.tt/2XRlJCb

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AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...