Fill in the following details to e-mail
To
Cc
Subject
<!DOCTYPE html PUBLIC "-//W3C//DTD XHTML 1.0 Transitional//EN" "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> <html xmlns="http://www.w3.org/1999/xhtml"> <head> </head> <body> <div style="font-family:Verdana, Geneva, sans-serif; font-size:12px; text-align:justify"> <table width="800" border="0" style="border:1px solid #ccc;padding:5px;" align="center" cellpadding="6" cellspacing="0"> <tr> <td align="left" valign="top"> <br /> Supreme Court <br /><br /> Commissioner cannot usurp Department’s plausible view<br /><br /> - (11 May 2016)<br /><br /> </td> </tr> <tr> <td align="left" valign="top"><a href="http://supremecourtofindia.nic.in/FileServer/2016-05-11_1462951200.pdf">Commissioner of Income Tax v. Amitabh Bachchan</a></td> </tr> <tr> <td align="left" valign="top" style="background-color:#FDEDCE"><strong>View taken by Assessing Officer, so long as it is a possible view, cannot be interfered by Commissioner under Section 263 of Income Tax Act 1961.<BR><BR> The court ruled that the Commissioner, as revisional authority, would enter the realm of an appellate one if it chose to substitute its own view instead of the Assessing Officer’s also plausible view.<BR><BR> The court acquiesced to the Commissioner’s course of action, accepting that further information about expenses claimed by the Respondent was required. <BR><BR> In the instant case, after assessment of the Respondent’s return of income, the Commissioner of Income Tax had proposed numerous revisions in the same. Subsequently, it directed fresh assessment. The Commissioner had reasoned the initial assessment to have been erroneous and the outcome was detrimental to the Department.</strong></td> </tr> <tr> <td align="left" valign="top" ><strong></strong></td> </tr> <tr> <td align="left" valign="top" ><strong>Tags : Income tax, expenses, further information</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <!--<td><strong>Source : <a target="_new" href="http://www.manupatrafast.com/">newsroom.manupatra.com</a></strong></td>--> <td align="left" valign="top"><strong>Source : newsroom.manupatra.com</strong></td> </tr> <tr> <td align="left" valign="top"> </td> </tr> <tr> <td align="left" valign="top">Regards</td> </tr> <tr> <td align="left" valign="top">Team Manupatra</td> </tr> <tr> <td align="left" valign="top"> </td> </tr> </table> </div> </body> </html>