Recent ITAT order on S.263 holding
Revisionary Proceedings valid for lack of adequate enquiries on
share capital raised
There has been a spate of S.263 proceedings in Kolkata against
investment companies raising share capital and assessments done by the A.Os
have been set aside for re-doing. As many as 400-plus S. 263 orders are under
challenge before ITAT, Kolkata in respect of A.Y :2008-2009 and many more such
orders have been challenged for subsequent years. First order on one such
case has been passed on 14 th August,2014 holding S. 263 proceedings valid on
account of lack of proper enquiry by the A.O.
see full text at:
No comments:
Post a Comment