Bassera Realtors (P) Ltd. v. CIT

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The Tax Publishers2014 TaxPub(DT) 2893 (Chd-Trib) : (2014) 059 (II) ITCL 0585 : (2014) 163 TTJ 0736 : (2014) 106 DTR 0090 Bassera Realtors (P) Ltd. v. CIT INCOME TAX ACT, 1961 --Revision under section 263--Merger with appellate orderExtent thereof--Matters which have not been appealed are clearly available for revision under section 263. Since AO has not made enquiries in respect of documents found regarding purchases of properties the whole order would be available for revision, as these matters have not been appealed. Only those matters which have been appealed against are not available for revision. The matters which have not been appealed are clearly available for revision under section 263. In the case since the AO has not made enquiries in respect of the documents found regarding purchase of properties and, therefore, the whole order would be available for revision. In fact, the revisionary powers have been exercised by the CIT for making additions under section 40A(3) and some more additions on account of investments made in properties detected during the search for which no enquiry has been made and those matters have not been appealed by the assessee. Therefore, there is no force in contention of assessee and the same is rejected. [Para 46] SUBSCRIBE FOR FULL CONTENT

The Tax Publishers2014 TaxPub(DT) 2893 (Chd-Trib) : (2014) 059 (II) ITCL 0585 : (2014) 163 TTJ 0736 : (2014) 106 DTR 0090

Bassera Realtors (P) Ltd. v. CIT

INCOME TAX ACT, 1961

--Revision under section 263--Merger with appellate orderExtent thereof--Matters which have not been appealed are clearly available for revision under section 263. Since AO has not made enquiries in respect of documents found regarding purchases of properties the whole order would be available for revision, as these matters have not been appealed.

Only those matters which have been appealed against are not available for revision. The matters which have not been appealed are clearly available for revision under section 263. In the case since the AO has not made enquiries in respect of the documents found regarding purchase of properties and, therefore, the whole order would be available for revision. In fact, the revisionary powers have been exercised by the CIT for making additions under section 40A(3) and some more additions on account of investments made in properties detected during the search for which no enquiry has been made and those matters have not been appealed by the assessee. Therefore, there is no force in contention of assessee and the same is rejected. [Para 46]