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The learned authorised representative submitted that the assessee did not get enough opportunity before learned CIT to present its case. The learned authorised representative submitted that the direction given by the learned CIT to the Assessing Officer to pass the asst. order is not justified. By placing reliance on the decision rendered by the coordinate bench in the case of Bagalkot Town Development Authority Vs. CIT (2014) Taxmann.com 582 (in ITA No.1151/Bang/2012 dated 22/1/2014), the learned authorised representative submitted that the learned CIT should have directed the Assessing Officer to afford an opportunity to the assessee to accumulate the income u/s 11(2) of the Act by filing Form No.10 before him before completing the asst. Accordingly he prayed that the direction issued by the learned CIT be modified.

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Sec. 263 of Income Tax Act, 1961—Revision— order passed by the Assessing Officer u/s 143(3) is cryptic order without any discussion and it was also not shown by the assessee that the Assessing Officer did examine the taxability or otherwise of the surplus shown by the assessee in its income expenditure account, since the Assessing Officer has not examined the issue at all in the assessment order, the order shall be rendered erroneous and prejudicial to the interest of revenue as per the decision rendered - MYMUL RAITHA KALYANA TRUST V/s CIT - [2020] 82 ITR (TRIB) 434 (ITAT-BANGALORE)