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HomeDirect TaxS. 263 Revision Invalid Where AO Took Plausible View on Unlisted Share...

S. 263 Revision Invalid Where AO Took Plausible View on Unlisted Share Gains as Capital Gains: Calcutta High Court

Direct Tax

Published on

By Mariya Paliwala
calcutta hc

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The Calcutta High Court has held that revision under Section 263 of the Income Tax Act, 1961 invalid where the Assessing Officer (AO) took a plausible view on unlisted share gains as capital gains. The Bench of Justice Rajarshi Bharadwaj and Justice Uday Kumar has observed that the Income Tax Appellate Tribunal (ITAT) was justified…

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Mariya Paliwala
Mariya Paliwalahttps://www.jurishour.in/
Mariya is the Senior Editor at Juris Hour. She has 7+ years of experience on covering tax litigation stories from the Supreme Court, High Courts and various tribunals including CESTAT, ITAT, NCLAT, NCLT, etc. Mariya graduated from MLSU Law College, Udaipur (Raj.) with B.A.LL.B. and also holds an LL.M. She started her career as a freelance tax reporter in the leading online legal news companies.

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