Verification of large deductions claimed u/s 54-B, 54-C, 54-D, 54-G of the Income Tax Act

Last updated: 23 November 2021

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This case involved an assessee challenging a revisional order by the Principal Commissioner of Income Tax (PCIT). The PCIT had directed a fresh assessment order, claiming the original assessment was erroneous and prejudicial to the revenue's interest, particularly concerning deductions claimed under Sections 54-B, 54-C, 54-D, and 54-G of the Income Tax Act. The assessee argued that the PCIT wrongly assumed jurisdiction under Section 263, as the original assessment had already considered these deductions. The Income Tax Appellate Tribunal ultimately allowed the assessee's appeal, cancelling the revisional order.

Court :
ITAT Raipur

Brief :
Income Tax (“PCIT” in short ), Raipur-1 communicated to the assessee on 26.03.2021 passed under Sect ion 263 of the Income Tax Act, 1961

Citation :
I.T.A. No. 19/RPR/2021

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Attached File : 1442821_4638_1634817848_ita_no_19_rpr_2021_shri_ramdev_mandhani_huf.pdf

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Judgement posted by

Poojitha Raam Vinay

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I simplify complex income tax, TDS, banking, and investment updates into practical insights for taxpayers, salaried professionals, pensioners, and senior citizens. I regularly write on ITR filing, tax compliance, savings schemes, and the latest financial rule changes in India.

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