AHMED ALAM KHAN,HYDERABAD vs. DEPUTY COMMISIONER OF INCOME TAX CIRCLE 2(1), HYDERABAD

ITA 167/HYD/2021Status: DisposedITAT Hyderabad26 March 2024AY 2015-16Bench: SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER (Virtual Hearing), SHRI K.NARASIMHA CHARY (Judicial Member)11 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal found that the Assessing Officer had made sufficient inquiries and obtained necessary documents, including sale deeds and construction details. Therefore, the assessment order was not erroneous, and the revision order under Section 263 was not sustainable.

What were the facts?

The assessee claimed deductions under Section 54 for the sale of a property. The PCIT initiated revision proceedings under Section 263, holding that the property was not a residential house and the deduction was wrongly allowed. The assessee appealed this revision order.

What were the issues?

Whether the PCIT was justified in revising the assessment order under Section 263 when the Assessing Officer had conducted adequate inquiries regarding the eligibility for deduction under Section 54.

Which sections of the Income-tax Act were involved?

Section 263,Section 54

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, HYDERABAD BENCHES “B”, HYDERABAD

Before: SHRI S. RIFAUR RAHMAN & SHRI K.NARASIMHA CHARY

For Respondent: Shri K. Madhusudan, CIT-DR
Hearing: 24/01/2024

PER K. NARASIMHA CHARY, J.M: Aggrieved by the order dated 18/05/2020 passed by the learned Pr.Commissioner of Income Tax-2, Hyderabad (“Ld. PCIT”) under section 263 Income Tax Act, 1961 (‘the Act’) in the case of Ahmed Alam Khan (“the assessee”) for the assessment year 2015-16, assessee preferred this appeal.

2.

It could be seen from the record that there is a delay of 258 days in preferring this appeal and the reason attributed for the delay in filing the appeal to the pandemic. As a matter of fact, though the learned DR does not

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 263

All 13,616 judgments and leading authorities on Section 263 →

Latest GST High Court judgments

Search GST case law →